82. Chapter ma2pe08r, Section .211, Problem 051 (ID: 051.21.1 - MC - MANK08)The following diagram shows a budget constraint for a particular consumer.403020 +10->10 20 30 40 50 60 70 80 90If the price of X is $5, what is the consumer's income?a. $10b. $30c. $150d. $300

Budget constraint is defined as the different combinations of goods and services that a consumer can…

Answered: d. $300

Business

Economics

d. $300

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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82. Chapter ma2pe08r, Section .211, Problem 051 (ID: 051.21.1 - MC - MANK08)
The following diagram shows a budget constraint for a particular consumer.
40
30
20 +
10
->
10 20 30 40 50 60 70 80 90
If the price of X is $5, what is the consumer's income?
a. $10
b. $30
c. $150
d. $300

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