In the following budget constraintindifference curve graph, Nikki has $200 to spend on tops and pants. a.
Question:
In the following budget constraint–indifference curve graph, Nikki has $200 to spend on tops and pants.
a. What is the price of tops? What is the price of pants?
b. Is Nikki making the optimum choice if she buys 4 tops and 2 pairs of pants? Explain how you know this.
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Step by Step Answer:
a The price of tops can be calculated by dividing the total budget 200 by the maximum number of tops ...View the full answer
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