I f Bill wants to maximize his utility while spending $31 on apple. Bill van buy 10 whole pounds of Apples
How to find the number of whole pounds of apples bill can buy if he has $31 to spend
given data
Apples cost $3 per pound
Bananas cost $5 per pound
amount Bill has to spend $31
The number of whole apple Bill can buy
Using $31 the number of whole apples this can buy is gotten dividing the the total amount by the price of apple per pound.
= amount Bill has to spend $31 / Apples cost $3 per pound
= 31 / 3
= 10.33
Since we are solving for whole pounds of apple Bill can buy 10 whole pounds of apples
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