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Please see the pictures below. I believe I have the correct answers chosen, but I'm not 100% on them. Please help! If Ricky has $20
Please see the pictures below. I believe I have the correct answers chosen, but I'm not 100% on them. Please help!
If Ricky has $20 and the price of good X is $4 and the price of good Y is $3 then which expression represents Ricky's budget constraint? (Hint: look at the "Work It Out" on p. 30.) $20 = $3X + $4Y $20 = $4X + $3Y $3 = $20X + $4Y $4 = $20X + $3YIf the production of houses is subject to the law of diminishing returns then as additional increments of resources are added to the production of homes , then the marginal benefit from those additional increments declines. True O FalseGains from trade allow a country to consume more goods than what it would be capable of producing on its own. . True O FalseStep by Step Solution
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