The slope of the budget line is the amount of one commodity that a consumer must give up in order to obtain an additional unit of the other commodity.

Name: The slope of the budget line is the amount of one commodity that a consumer must give up in order to obtain an additional unit of the other commodity.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

This statement accurately describes the slope of a budget line in economics. The slope represents the opportunity cost of one commodity in terms of the other commodity.

The Slope of the Budget Line Is the Amount of One