4. By definition, a budget constraint shows the consumption bundles that a consumer can afford. Assume that a college student spends her income on mac-n-cheese and CDs. The price of one box of mac-n-cheese is $1.00, and the price of one CD is $10.00. If she has $90 of income, she could choose to consume a. 25 boxes of mac-n-cheese and 8 CDs b. 30 boxes of mac-n-cheese and 7 CDs c. 10 boxes of mac-n-cheese and 9 CDs d. 25 boxes of mac-n-cheese and 6 CDs

4. By definition, a budget constraint shows the consumption bundles that a consumer can afford. Assume that a college student spends her income on mac-n-cheese and CDs. The price of one box of mac-n-cheese is $1.00, and the price of one CD is $10.00. If she has $90 of income, she could choose to consume a. 25 boxes of mac-n-cheese and 8 CDs b. 30 boxes of mac-n-cheese and 7 CDs c. 10 boxes of mac-n-cheese and 9 CDs d. 25 boxes of mac-n-cheese and 6 CDs

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 2.5P

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