Philip, a resident of Calgary, has an income of $16, the price of A is $2, and the price of B is $1. Which of the following combinations is on the Philip's budget line?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Philip, a resident of Calgary, has an income of $16, the price of A is $2, and the price of B is $1. Which of the following
combinations is on the Philip's budget line?
Transcribed Image Text:Philip, a resident of Calgary, has an income of $16, the price of A is $2, and the price of B is $1. Which of the following combinations is on the Philip's budget line?
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