Suppose that Julia receives a $20 gift card for the local coffee shop, where she only buys lattes and muffins. If the price of a latte is $4 and the price of a muffin is $2, then we can conclude that Julia Multiple Choice can buy 5 lattes or 10 muffins if she chooses to buy only one of the two goods. should only buy lattes. can buy 5 lattes and 10 muffins with her $20 gift card. should only buy muffins.
Suppose that Julia receives a $20 gift card for the local coffee shop, where she only buys lattes and muffins. If the price of a latte is $4 and the price of a muffin is $2, then we can conclude that Julia Multiple Choice can buy 5 lattes or 10 muffins if she chooses to buy only one of the two goods. should only buy lattes. can buy 5 lattes and 10 muffins with her $20 gift card. should only buy muffins.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose that Julia receives a $20 gift card for the local coffee shop, where she only buys lattes and muffins. If the price of a
latte is $4 and the price of a muffin is $2, then we can conclude that Julia
Multiple Choice
can buy 5 lattes or 10 muffins if she chooses to buy only one of the two goods.
should only buy lattes.
can buy 5 lattes and 10 muffins with her $20 gift card.
should only buy muffins.
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