The figures below show Chris's consumption of specialty coffee per week. FIGURE 6-10
-Refer to Figure 6-10.The slope of the budget line reflects the ________ of specialty coffees in terms of all other goods.
A)demand
B)quantity
C)opportunity cost
D)absolute price
E)substitution

Question

The figures below show Chris's consumption of specialty coffee per week.  FIGURE 6-10
-Refer to Figure 6-10.The slope of the budget line reflects the ________ of specialty coffees in terms of all other goods.
A)demand 
B)quantity 
C)opportunity cost 
D)absolute price 
E)substitution

Quizplus · Accepted Answer

The slope of the budget line reflects the opportunity cost of specialty coffees in terms of all other goods. This means that the slope represents the amount of other goods that Chris has to give up in order to consume one more cup of specialty coffee. Therefore, the correct answer is C, opportunity cost.

The Figures Below Show Chris's Consumption of Specialty Coffee Per