Business, 10.03.2020 07:00 jhausenfleck541
Suppose the price of hot wings is $10, the price of beer is $1, and the consumer’s income is $50. In addition, suppose the consumer’s budget constraint illustrates hot wings on the horizontal axis and beer on the vertical axis. If the price of beer doubles to $2, then the .
a. budget constraint intersects the vertical axis at 25 beers.
b. slope of the budget constraint rises to -2.
c. slope of the budget constraint falls to -4.
d. budget constraint shifts inward in a parallel fashion
Answers: 2
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Suppose the price of hot wings is $10, the price of beer is $1, and the consumer’s income is $50. In...
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