Multiple Choice
Assume that a consumer can spend $20 on two goods-pens and pencils.If the price of one pen is $5 and the price of one pencil is $2,which of the following combinations of the two goods represents a point on the consumer's budget constraint?
A) 3 pens and 2 pencils
B) 1 pen and 10 pencils
C) 2 pens and 5 pencils
D) 2 pens and 3 pencils
Correct Answer:
Verified
Correct Answer:
Verified
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