For months now, Agnes has had $20 per month to spend on tea and scones. The price of a cup of tea and the price of a scone have been each $1. Which of the charts in the accompanying diagram shows what will happen to her budget line if both prices double? Chart A Chart B Tea Tea 50 50 40 40 30 30 20 20 10- 10 10 15 20 25 30 10 15 20 Scones 25 30 Scones

For months now, Agnes has had $20 per month to spend on tea and scones. The price of a cup of tea and the price of a scone have been each $1. Which of the charts in the accompanying diagram shows what will happen to her budget line if both prices double? Chart A Chart B Tea Tea 50 50 40 40 30 30 20 20 10- 10 10 15 20 25 30 10 15 20 Scones 25 30 Scones

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 3SQP

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