The price of gasoline increased

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Steve was spending all of his income by purchasing 12 units of gasoline and 36 unit of potato chips. The price of gasoline increased from $32 to $94. The price of potato chips remained the same at $23. How much would Steve's income have to rise so that he can still exactly afford 12 units of gasoline and 36 units of potato chips? (remember consumer income is always exhausted). (Hint: use the budget equation with the prices and quantities given to you in the problem).

Reference no: EM131174337

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