Lumen OHM Assessment

Enable text based alternatives for graph display and drawing entry

Question 1

A student has a monthly budget of $120 to spend on either juices, which cost $6 each, or tacos, which cost $4 each.

What is the largest number of juices that the student could afford to purchase in one month?

Hint

Question 2

What is the largest number of tacos the student could afford to purchase in one month?

Hint

Question 3

Draw the student's budget constraint. Put beers on the x-axis and tacos on the y-axis.

Clear All Draw: Line

Hint 1

Hint 2

Question 4

Which combinations of beers and tacos are unaffordable?

those to the left of the line in the above graph
those to the right of the line in the above graph

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Question 5

Indicate which combinations would leave some budget unspent.

those to the left of the line in the above graph
those to the right of the line in the above graph

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Question 6

What is the equation for the student's budget constraint? In your equation, use Q1 as the variable to represent the quantity of beers and Q2 to represent the quantity of tacos.

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Question 7

What is the opportunity cost of a beer?

tacos

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Question 8

What is the opportunity cost of a taco?

beers

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Question 9

How can one see the opportunity cost on the graph?

Hint