According to Figure 1, If the original prices of Sweaters and Shirts were $10 each, what would be the new price of Shirts while Leyla consumes at point B?Number ofSweaters40281266 Number ofShirts2040Select one:a.$10b.$8c.$6d.$5 Refer to Figure 1. Following figure shows the budget constraint for Leyla. Wwhen the price of shirts decrease consumption of shirts increase from 12 units to 20 units while theconsumption of Sweaters do not change. What can be said about the relationship between shirts and sweaters for Leyla?Number ofSweaters40B281266 Number ofShirts2040Select one:a.Sweaters are inferior for Leylab.Both are substitutes for Leylac.They are complements for Leylad.Sweaters and Shirts are independent for Leyla

Answer: (1). Correct option: c ($6) Explanation: The initial budget line shows that if Leyla spends…

Answered: Number of Sweaters 40 B 28 66 Number of…

Business

Economics

Number of Sweaters 40 B 28 66 Number of Shirts 12 40 Select one: a.$10 b.$8 O c.$6 d.$5 20

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section: Chapter Questions

Problem 1PA

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Question

According to Figure 1, If the original prices of Sweaters and Shirts were $10 each, what would be the new price of Shirts while Leyla consumes at point B?
Number of
Sweaters
40
28
12
66 Number of
Shirts
20
40
Select one:
a.$10
b.$8
c.$6
d.$5

Refer to Figure 1. Following figure shows the budget constraint for Leyla. Wwhen the price of shirts decrease consumption of shirts increase from 12 units to 20 units while the
consumption of Sweaters do not change. What can be said about the relationship between shirts and sweaters for Leyla?
Number of
Sweaters
40
B
28
12
66 Number of
Shirts
20
40
Select one:
a.Sweaters are inferior for Leyla
b.Both are substitutes for Leyla
c.They are complements for Leyla
d.Sweaters and Shirts are independent for Leyla

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