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For Situation 1
For Situation 1
For Situation 1:
Budget = P2000
In given budget Total costs of each good : (i)Books = P500, and Movie tickets = P1500
For Situation 2:
Budget = P2000
Solution: 2 x1 + x 2=16
In given budget Total costs of each good : (i)Books = P1750, and Movie tickets = P250
For Situation 3:
Budget = P1200