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Suppose that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C + T= 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. O d. 4 cups of coffee and no tea. e. none of the above

Suppose that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C + T= 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. O d. 4 cups of coffee and no tea. e. none of the above

Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 5SQP
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Suppose that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C +T = 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. Od. 4 cups of coffee and no tea. e. none of the above
Transcribed Image Text:Suppose that a consumer considers coffee and tea to be perfect substitutes, but he requires two cups of tea to give up one cup of coffee. This consumer's budget constraint can be written as 3C +T = 10. What should the consumer buy? Select one: O a. 2 cups of tea and no coffee. O b. 10 cups of tea and no coffee O c. 3 cups of coffee and no tea. Od. 4 cups of coffee and no tea. e. none of the above
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