3. Refer to the budget constraint for jeans and T-shirts in the figure below. Which of the following consumption bundles is attainable? 3 pairs of jeans, 1 T-shirt. 2 pairs of jeans, 4 T-shirts. 2 pairs of jeans, 3 T-shirts. 1 pair of jeans, 4 T-shirts.
3. Refer to the budget constraint for jeans and T-shirts in the figure below. Which of the following consumption bundles is attainable? 3 pairs of jeans, 1 T-shirt. 2 pairs of jeans, 4 T-shirts. 2 pairs of jeans, 3 T-shirts. 1 pair of jeans, 4 T-shirts.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
3. Refer to the budget constraint for jeans and T-shirts in the figure below. Which of the following consumption bundles is attainable?
- 3 pairs of jeans, 1 T-shirt.
- 2 pairs of jeans, 4 T-shirts.
- 2 pairs of jeans, 3 T-shirts.
- 1 pair of jeans, 4 T-shirts.
Expert Solution
Introduction
Here we are given the budget line curve and some bundles. Based on this we will determine whether those bundles are affordable or not.
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