Determine how much the consumer purchases

Reference no: EM13222566

A consumer has $100 to divide between purchasing wine and quiche. Suppose wine costs $10 per bottle if the consumer purchases up to 5 bottles. After that, it is $5 per bottle. Suppose quiche is $5 each. Please draw the budget line. Will a consumer purchase exact 5 bottles of wine? And why?

Reference no: EM13222566

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