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puppose Leela can afford exactly 10 pencils and 4 erasers when the prices are $1 per pencil and $5 per eraser. Then what is Leela's income? $6 $10 $20 $30 $54

puppose Leela can afford exactly 10 pencils and 4 erasers when the prices are $1 per pencil and $5 per eraser. Then what is Leela's income? $6 $10 $20 $30 $54

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose Leela can afford exactly 10 pencils and 4 erasers when the prices are $1 per pencil and $5 per eraser. Then what is Leela's income? $6 $10 $20 $30 $54
Transcribed Image Text:Suppose Leela can afford exactly 10 pencils and 4 erasers when the prices are $1 per pencil and $5 per eraser. Then what is Leela's income? $6 $10 $20 $30 $54
Expert Solution
Step 1

Given:

Price Quantity:

Price of pencil=$1

Price of eraser=$5

Number of pencils Leela can afford=10

Number of erasers Leela can afford=4

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