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Mary has a budget of $90 to spend on lunch and magazines. Each lunch cost $15. Each magazine cost $3. Therefore, her budget constraint line
Mary has a budget of $90 to spend on lunch and magazines. Each lunch cost $15. Each magazine cost $3. Therefore, her budget constraint line states that 15QL + 3QM = 90, where QL is quantity of lunchs and QM is quantity of magazines. What is the relative price of magazines in terms of lunches?
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