Assume an economy with two goods: pants and shirts. Pants cost $50 a piece and shirts go for $30 a piece. A rich unce also donates $500 to you Your shopping budget is $1000. Write down the spending side of the budget constraint. O S50*q_pants + $30*q_shirts - $1000 O S50*q_shirts + $30*q_pants O 550*q_pants + $30*q_shirts O $50*q_pants + $30*q_shirts + $500

Assume an economy with two goods: pants and shirts. Pants cost $50 a piece and shirts go for $30 a piece. A rich unce also donates $500 to you Your shopping budget is $1000. Write down the spending side of the budget constraint. O S50q_pants + $30q_shirts - $1000 O S50q_shirts + $30q_pants O 550q_pants + $30q_shirts O $50q_pants + $30q_shirts + $500

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 4SCQ: As a college student you work at a part-time job, but your parents also send you a monthly...

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