y 20 Budget line 8 X Which of the following sets of prices and income are consistent with this budget line 1. Px = $10, py = $2, N = $120. 2. px = $5, py = $2, N = $40. 3. px = $1.50, py = $0.60, N = $12. 1, 2, and 3. 1 only. 2 and 3 only. 2 only.

y 20 Budget line 8 X Which of the following sets of prices and income are consistent with this budget line 1. Px = $10, py = $2, N = $120. 2. px = $5, py = $2, N = $40. 3. px = $1.50, py = $0.60, N = $12. 1, 2, and 3. 1 only. 2 and 3 only. 2 only.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

y
20
Budget line
X
Which of the following sets of prices and income are consistent with this budget line
1. px = $10, py= $2, N = $120.
2. px = $5, py= $2, N = $40.
3. px = $1.50, py = $0.60, N = $12.
1, 2, and 3.
1 only.
2 and 3 only.
2 only.

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