Shannon has $500 a week to spend on pizza and milk. The price of pizza is $25 and the price of milk is $10. What is the equation for Shannon's budget constraint? O a. ($25 x pizza) / ($10 x milk) = $500 O b. $25 x pizza + $10 x milk > $500 O c. $25 x pizza + $10 x milk = $500 O d. milk + pizza <$500

Exploring Economics
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ISBN:9781544336329
Author:Robert L. Sexton
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Chapter10: Consumer Choice Theory
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Shannon has $500 a week to spend on pizza and milk. The price of pizza is $25 and the price of milk is $10. What is the equation for
Shannon's budget constraint?
O a. ($25 x pizza) / ($10 x milk) = $500
O b. $25 x pizza + $10 x milk > $500
O c. $25 x pizza + $10 x milk = $500
O d. milk + pizza <$500
Transcribed Image Text:Shannon has $500 a week to spend on pizza and milk. The price of pizza is $25 and the price of milk is $10. What is the equation for Shannon's budget constraint? O a. ($25 x pizza) / ($10 x milk) = $500 O b. $25 x pizza + $10 x milk > $500 O c. $25 x pizza + $10 x milk = $500 O d. milk + pizza <$500
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