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Suppose that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C + T= 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. O d. 4 cups of coffee and no tea. e. none of the above

Suppose that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C + T= 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. O d. 4 cups of coffee and no tea. e. none of the above

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 that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C +T = 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. Od. 4 cups of coffee and no tea. e. none of the above
Transcribed Image Text:Suppose that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C +T = 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. Od. 4 cups of coffee and no tea. e. none of the above
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