In the following budget constraint- indifference curve graph, Nikki has $260 to spend on blouses and skirts. a. What is the price of a blouse? What is the price of a skirt? S b. Is Nikki making the optimum choice if she buys 4 blouses and 2 skirts? O A. Yes, the indifference curve going through this point is tangent to Nikki's budget constraint. B. No, the indifference curve going through this point is not tangent to Nikki's budget constraint. Yes, this point is on the budget constraint. No, the other point of intersection of the indifference curve and the budget constraint is the optimal choice. C. O D. Blouses

In the following budget constraint- indifference curve graph, Nikki has $260 to spend on blouses and skirts. a. What is the price of a blouse? What is the price of a skirt? S b. Is Nikki making the optimum choice if she buys 4 blouses and 2 skirts? O A. Yes, the indifference curve going through this point is tangent to Nikki's budget constraint. B. No, the indifference curve going through this point is not tangent to Nikki's budget constraint. Yes, this point is on the budget constraint. No, the other point of intersection of the indifference curve and the budget constraint is the optimal choice. C. O D. Blouses

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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