If food is measured on the horizontal axis of a budget line diagram,and clothing is measured on the vertical axis,the slope of the budget line
A) may be positive if the price of clothing is high enough
B) may be positive if the price of food is high enough
C) may be positive if income is large enough
D) equals the maximum consumption of food divided by the maximum consumption of clothing times -1
E) equals the maximum consumption of clothing divided by the maximum consumption of food times -1
Correct Answer:
Verified
Q14: A family on a trip budgets $800
Q15: Figure 6-1
Income = $ 100
Price per Ticket
Q16: Budget constraints exist for consumers because
A)their utility
Q17: A consumer's budget line shows
A)the utility that
Q18: If income decreases,the budget constraint will shift
Q20: The budget line is useful for illustrating
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