Multiple Choice
-The figure above gives your budget line for magazine and CDs per month. Given that your income equals $60 per month, what is the price of a magazine and the price of a CD?
A) The price of a magazine is $12 per magazine and the price of a CD is $6 per CD.
B) The price of a magazine is $5 per magazine and the price of a CD is $10 per CD.
C) The price of a magazine is $4 per magazine and the price of a CD is $12 per CD.
D) It is impossible to tell from the information given.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: If the newspaper reported that wearing plaid
Q8: Janelle spends all of her income on
Q9: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -Nadya spends $200
Q10: The effect of a change in price
Q11: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -Lizzie's budget line
Q13: The larger the marginal rate of substitution,
Q14: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -Consider the budget
Q15: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -A budget line
Q16: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -Kristen has an
Q17: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -In the figure