Suppose a consumer has a budget for fast-food items of $60 per week and spends this money on two goods, hamburgers and pizzas. Suppose hamburgers cost $10 each and pizzas cost $20. Put the quantity of hamburgers purchased per month on
Suppose a consumer has a budget for fast-food items of $60 per week and spends this money on two goods, hamburgers and pizzas. Suppose hamburgers cost $10 each and pizzas cost $20. Put the quantity of hamburgers purchased per month on
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 1SQP
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Suppose a consumer has a budget for fast-food items of $60 per week and spends this money on two goods, hamburgers and pizzas.
Suppose hamburgers cost $10 each and pizzas cost $20.
Put the quantity of hamburgers purchased per month on the horizontal axis and the quantity of pizzas purchased per month on the vertical axis.
Draw the budget line.
What is its slope?
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