Asked by
Jhasmin Tonelada
on Nov 26, 2024
Verified
Suppose that Julia receives a $30 gift card for the local coffee shop, where she only buys lattes and muffins. If the price of a latte is $3 and the price of a muffin is $2, then we can conclude that Julia
A) should only buy muffins.
B) should only buy lattes.
C) can buy 10 lattes or 15 muffins if she chooses to buy only one of the two goods.
D) can buy 10 lattes and 15 muffins with her $30 gift card.
Gift Card
A prepaid stored-value money card, issued by a retailer or bank, to be used as an alternative to cash for purchases within a particular store or related group of stores.
Lattes
Lattes are coffee drinks made with espresso and steamed milk, popular worldwide as a caffeinated beverage choice.
- Understand the concepts and applications of budget constraints and choices consumers make given limited resources.
Verified Answer
CD
Learning Objectives
- Understand the concepts and applications of budget constraints and choices consumers make given limited resources.