Abby, Bobbi, and Deborah each buy ice cream and paperback novels to enjoy on hot summer days. Ice cream costs $5 per gallon, and paperback novels cost $8 each. Abby has a budget of $80, Bobbi has a budget of $60, and Deborah has a budget of $40 to spend on ice cream and paperback novels. Which of the following statements is correct?

a. Each woman faces the same budget constraint.
b. The slope of the budget constraint is the same for each woman.
c. The area underneath the budget constraint is larger for Deborah than for Abby.
d. All of the above are correct.

b

Economics

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In the figure above, with international trade the United States ________ million shirts per year

A) imports 32 B) imports 48 C) exports 16 D) exports 32

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Describe the difference in market structure between monopoly and oligopoly

What will be an ideal response?

Economics