Question 22Refer to Figure 3-1 in Question 16. Assume that Tom has an income of $50. Based on the informationavailable in the graph, which of the following price-quantity combinations would be on his demand curvefor pizza slices if the price of tacos were $5?O P $2.50, Q-10O P=$2.50, Q=5P=$5, Q-5P=$5, Q=9 Figure 3-1Quantity ofPizza Slices20伯格订侣酒保侣位11098765432110 12 14 16 18 20QuantityofTacos

Answer:Given,Price of tacos = $5 Total income = $50

Question 22 Refer to Figure 3-1 in Question 16. Assume that Tom has an income of $50. Based on the information available in the graph, which of the following price-quantity combinations would be on his demand cur for pizza slices if the price of tacos were $5? curve P=$2.50, Q=10 O P=$2.50, Q=5 OP=$5, Q-5 O P=$5, Q=9

Question 22 Refer to Figure 3-1 in Question 16. Assume that Tom has an income of $50. Based on the information available in the graph, which of the following price-quantity combinations would be on his demand cur for pizza slices if the price of tacos were $5? curve P=$2.50, Q=10 O P=$2.50, Q=5 OP=$5, Q-5 O P=$5, Q=9

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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