Mary has $10 to spend each week on coffee, Qc and magazines, Qm. The price of a coffee is $1, and the price of a magazine is $2. Mary's budget equation is ________
A) Qm = 10 - Qc
B) Qm + Qc = 20
C) $1 × Qc + $2 × Qm = $10
D) Qm = 10 - 2 × Qc
C
You might also like to view...
Why do monopolistic firms practice international dumping?
a. They face the same demand conditions in their domestic and foreign markets. b. They face more elastic demand conditions in their domestic market than in their foreign markets. c. They face more elastic demand conditions in their foreign market than in their domestic market. d. They are able to take advantage of increasing costs.
How can inflation affect the international competitiveness of a country?
a. Through an increase in nominal interest rates. b. Through an increase in real interest rates. c. The competitiveness is harmed by any inflation rate that is higher than in other countries, as long as it is offset by exchange rate changes. d. The competitiveness is harmed by any inflation rate that is higher than in other countries, as long as it is not offset by exchange rate changes. e. Inflation is a domestic issue and therefore does not affect the international competitiveness