Multiple Choice
Scenario 21-1
Suppose the price of pizza is $10, the price of cola is $1, and the consumer's income is $50. In addition, suppose the consumer's budget constraint measures pizza on the horizontal axis and cola on the vertical axis.
-Refer to Scenario 21-1.If the price of cola doubles to $2,then the
A) budget constraint intersects the vertical axis at 25 colas.
B) slope of the budget constraint rises to -2.
C) budget constraint intersects the vertical axis at 100 colas.
D) budget constraint shifts inward in a parallel fashion.
Correct Answer:
Verified
Correct Answer:
Verified
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