How Many Strawberries and Ice Cubes Does Monet Need for His Smoothies?

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SUMMARY

Monet, a first-year graduate student, allocates his entire weekly salary of $10 to purchase strawberries and ice for smoothies. Each smoothie requires 10 strawberries, costing $0.5 each, and 5 ice cubes, costing $0.2 each. To maximize his smoothie production, Monet can buy 20 strawberries and 50 ice cubes with his salary, allowing him to make 2 smoothies. The economic intuition behind this scenario involves understanding budget constraints and utility maximization.

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Homework Statement



"Monet is a first year graduate student and he receives a weekly salary from his teaching assistant job on campus. His stress–release activity is to make strawberry smoothies. Therefore he spends all his weekly salary for buying strawberries and ice. In order to make a perfect smoothie, he needs to put 10 strawberries and 5 cubes of ice per cup of smoothie. The price of a strawberry is $0.5 and the price of a cube of ice is $0.2. His weekly salary is $10."

b. Draw one of Monet’s indifference curves for strawberries and ice and explain the economic intuition. (I think I got this one)

c. How many strawberries and ice cubes will Monet buy? Show the answer either graphically or mathematically. (please help here)

Homework Equations



Y(income)= Price of ice * ice + price of strawberries * strawberries

The Attempt at a Solution



10 = ? omg help

the intercepts will be 20 and 50
 
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To make n smoothies, how many strawberries and how many ice cubes does Monet need?
 

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