(Figure: Paloma's Budget Line) Use Figure Paloma's Budget Line. The price of a cup of tea is $3, and the price of apple chips is $1. Given her income and the prices of the two goods, Paloma can consume teas and apple chips. Tea 20 60 Apple chips a) 15; 20

(Figure: Paloma's Budget Line) Use Figure Paloma's Budget Line. The price of a cup of tea is $3, and the price of apple chips is $1. Given her income and the prices of the two goods, Paloma can consume teas and apple chips. Tea 20 60 Apple chips a) 15; 20

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(Figure: Paloma's Budget Line) Use Figure Paloma's Budget Line. The price of a cup of tea is $3, and the
price of apple chips is $1. Given her income and the prices of the two goods, Paloma can consume
teas and
apple chips.
Tea
20
60
Apple chips
O
O
O
a)
15; 20
10; 40
15; 15
d) 20; 10
b)
으

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