2. Answer the following questions based on the table.

A consumer is able to consume the following

bundles of rice and fish when the price of rice is P40 and the price of fish/kilo is P50. (25%)

Rice Fish
10 0
5 4
0 8

A. How much is the consumer's income? (5%)

Income = 10 x P40 + 0 x P50
Income = P400

12 B. Draw a
budget
10
constraint
given this
information.
8
Label it B
(5%).
6

4 (10, 0)
(5, 4)
2

0
0 4 8
(0, 8)