If the consumer's budget constraint is given by 4P + 2B = 50 where P is pizza and B is burgers, the following bundles of pizza and burger would be on the budget constraint:
A. P = 2; B = 24
B. P = 2; B = 21
C. P = 5; B = 10
D. P = 10; B = 20
Answer: B
You might also like to view...
A graph shows the quantity for Product A on the vertical axis and the quantity for Product B on the horizontal axis. What is the proper interpretation of a vertical line at a particular quantity for Product B that is parallel to the vertical axis of the
graph? What is the slope of the vertical line? Please provide the best answer for the statement.
During the 1960s, U.S. steel firms argued they needed tariff protection because Germany and Japan were using new mills to make steel since their old mills were destroyed in World War II. Essentially, this argument is a form of the
A) infant-industry argument. B) anti-dumping argument. C) countering foreign subsidies argument. D) national defense argument.