2,EXERCISE ONEDATA RESPONSE QUESTIONS1.GOODSPRICE (D)A bag of riceCooking oilSugarSoapGas160.0035.0050.0040.00150.00150.00Suit caseDresses200.00Define scale of preference and state its importance.(ii)(i)What is the disposable income of Mr. Mensah?(iii) Which of the items could he purchase?(iv)Use the table to answer

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1. GOODS PRICE (D) A bag of rice Cooking oil Sugar Soap Gas 160.00 35.00 50.00 40.00 150.00 150.00 200.00 Suit case Dresses Define scale of preference and state its importance. What is the disposable income of Mr. Mensah? Which of the items could he purchase?

1. GOODS PRICE (D) A bag of rice Cooking oil Sugar Soap Gas 160.00 35.00 50.00 40.00 150.00 150.00 200.00 Suit case Dresses Define scale of preference and state its importance. What is the disposable income of Mr. Mensah? Which of the items could he purchase?

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 1.3P

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