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Economics - Absolute Prices

 
 
mc2147
 
Reply Fri 10 Apr, 2015 08:37 pm
Hi All,
My economics course homework has this question:

Steak costs $6/lb and one pound has 12 g of protein and 6 g of carbs
Loaves of bread cost $5/lb and one pound has 5 g of protein and 15 g of carbs

What is the absolute price of a gram of protein and a gram of carbs?

How do we find the absolute price of protein/carbs when there are two differently priced goods involved?
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Type: Question • Score: 2 • Views: 742 • Replies: 2
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Kolyo
 
  1  
Reply Fri 10 Apr, 2015 10:34 pm
@mc2147,
Let x be the unit price of protein in cents per gram.
Let y be the unit price of carbs in cents per gram.

The info you have translates to:
600 = 12x + 6y
500 = 5x + 15y

Solve for x and y.

(Note: I am assuming here that the food item price is purely a linear function of grams of protein and grams of carbohydrate. In real life, that assumption is nonsense.)
roger
 
  1  
Reply Fri 10 Apr, 2015 10:51 pm
@Kolyo,
Boy, I'll say. Carbohydrates are notoriously scarce in meat - except for glycogen stored in the liver.
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