Multiple Choice
Assume that a consumer has a given budget or income of $12 and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. This means that, in order to buy two bananas, this consumer must forgo
A) 1 apple.
B) 1.5 apples.
C) 0.5 apple.
D) 0.75 apple.
Correct Answer:
Verified
Correct Answer:
Verified
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