Suppose Raul has budgeted $100 of his monthly income towards two good: t-shirts and jeans. If the price of a pair of jeans is $20 and last month he spent his $100 on a bundle containing 2 pairs of jeans and 12 t-shirts, which of the following is another point on Raul's budget line?
A) 3 pairs of jeans and 16 t-shirts
B) 1 pair of jeans and 15 t-shirts
C) 3 pairs of jeans and 6 t-shirts
D) 0 pairs of jeans and 20 t-shirts
Correct Answer:
Verified
Q119: When a consumer spends less time enjoying
Q483: Grace consumes two goods: iced tea and
Q485: Suppose a consumer consumes two goods, X
Q486: The theory of consumer choice most closely
Q487: Just as the theory of the competitive
Q489: Suppose a consumer consumes two goods, X
Q490: On a graph we draw a consumer's
Q491: Which of the following statements is necessarily
Q492: Which of the following does not represent
Q493: Suppose the only two goods that Lorenzo
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents