Multiple Choice
Scenario 21-1
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.
-Refer to Scenario 21-1.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) budget constraint intersects the vertical axis at 100 beers.
D) budget constraint shifts inward in a parallel fashion.
Correct Answer:
Verified
Correct Answer:
Verified
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