Refer to Figure 6.1. Assume Tom's budget constraint is AC. If the price of a hot dog is $3, the price of a hamburger is A) $12. B) $6. C) $3. D) $1.50.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 26P: Draw Maries budget constraint with pies on the horizontal axis and magazines on the vertical axis....
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Refer to Figure 6.1. Assume Tom's budget constraint is AC. If the price of a hot dog is $3, the price of a
hamburger is
A) $12. B) $6. C) $3. D) $1.50.

Tom's monthly budget constraint
40 A
•D
B
•E
20
Number of hamburgers per month
Figure 61
Number of hot dogs
per month
Transcribed Image Text:Tom's monthly budget constraint 40 A •D B •E 20 Number of hamburgers per month Figure 61 Number of hot dogs per month
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