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Nick Consumes Two Goods, Chips and Lemonade

Question 94

Multiple Choice

Nick consumes two goods, chips and lemonade. Located on the x-axis is the quantity of chips and on the y-axis is the quantity of lemonade. The magnitude of the slope of the budget line equals the


A) price of lemonade.
B) price of chips.
C) price of chips/price of lemonade.
D) price of lemonade/price of chips.

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