Suppose Joshua has budgeted $300 of his monthly income toward two goods: t-shirts and jeans. If the price of a pair of jeans is $60 and last month he spent his $300 on a bundle containing 2 pairs of jeans and 12 t-shirts, which of the following is another point on Joshua's budget line?
A) 3 pairs of jeans and 10 t-shirts
B) 1 pair of jeans and 18 t-shirts
C) 0 pairs of jeans and 24 t-shirts
D) 4 pairs of jeans and 4 t-shirts
Correct Answer:
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The following graph shows three possible
The following graph shows three possible
The following graph shows three possible
A)a firm's profits.
B)a consumer's budget.
C)a
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