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Draw the budget constraint for a person with income of $1000 if the price of pepsi is $5 and the price of pizza is $10. What is the slope of this budget constraint?
Draw the budget constraint for a person with income of $1000 if the price of pepsi is $5 and the price of pizza is $10. What is the slope of this budget constraint?
Anne Gillian DueroLv10
1 Nov 2020
Related textbook solutions
Related questions
At the consumer's optimum:
| a. |
the indifference curve will intersect the budget constraint at the midpoint of the budget constraint. |
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| b. |
it is still possible for the consumer to increase his consumption of both goods. |
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| c. |
the budget constraint will have a slope of MUx/Px. |
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| d. |
the slope of the indifference curve is equal to the slope of the budget constraint. |
