Multiple Choice
Suppose Joshua has budgeted $300 of his monthly income toward two goods: t-shirts and jeans. If the price of a pair of jeans is $60 and last month he spent his $300 on a bundle containing 2 pairs of jeans and 12 t-shirts, which of the following is another point on Joshua's budget line?
A) 3 pairs of jeans and 10 t-shirts
B) 1 pair of jeans and 18 t-shirts
C) 0 pairs of jeans and 24 t-shirts
D) 4 pairs of jeans and 4 t-shirts
Correct Answer:

Verified
Correct Answer:
Verified
Q83: For Brent, the income effect of a
Q84: A typical indifference curve is upward sloping.
Q85: For Meg, the substitution effect of an
Q86: On a graph we draw a consumer's
Q87: Figure 21-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt="Figure 21-6
Q89: Shelley wins $1 million in her state's
Q90: Suppose a consumer has an income of
Q91: Suppose William can choose between the consumption
Q92: Figure 21-17<br>The graph shows two budget constraints
Q93: When the price of a normal good