Tonya's Budget Constraint for Gallons of Gasoline (G)and Shirts (S)each

question 124

Multiple Choice

Tonya's budget constraint for gallons of gasoline (G) and shirts (S) each month can be expressed by the equation G = 100 - 2S,where G is the number of gallons of gasoline she buys and S is the total number of shirts she buys.Assume that she spends her entire budget each month.If the price of shirts is $10,which consumption bundle lies INSIDE Tonya's budget line?

• A)45 shirts and 100 gallons of gasoline
• B)50 shirts and 0 gallons of gasoline
• C)0 shirts and 100 gallons of gasoline
• D)10 shirts and 5 gallons of gasoline

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Definitions:

Ethnic Identity

A person's sense of belonging to a particular ethnic group, including the customs, culture, and perception of shared heritage or ancestry.

Middle Eastern

Pertaining to the geographical region that encompasses Western Asia and Egypt, noted for its distinct cultural, religious, and historical identity.

Merchandise Inventory

The goods and products a retail or wholesale company holds for the purpose of resale to customers.

Liability Account

A financial reporting category that encompasses all obligations or debts a company owes to outside parties.