Solved: With the gift card the commodity bundle 120 is on tonis, Business Economics

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With the gift card the commodity bundle 120 is on tonis

Suppose the price of x1 is $5 and the price of x2 is $1 and Toni's income is $20.

Suppose Toni gets a $5 gift card that can only be used for the purchase of x1 and there is no resale value of the gift card. With the gift card, the commodity bundle (1,20) is on Toni's budget constraint.

True

False

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Business Economics: With the gift card the commodity bundle 120 is on tonis

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Business Economics: With the gift card the commodity bundle 120 is on tonis

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