Sam buys gasoline and coffee each week. Which of the following variables does Sam need to be able to draw his budget line for gasoline and coffee?

Question

Answer

Only the price of gasoline and the price of coffee.

Answer

Only how much coffee he wants to drink and how much gasoline he needs.

Answer

Only how much income he plans to spend on coffee and gasoline.

Answer

The income he plans to spend on gasoline and coffee, and the prices of gasoline and coffee.

Answer

His preferences for gasoline and coffee.

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