Young Alasdair loves lollipops and hates oatmeal.To induce him to eat enough oatmeal and to restrain him from eating too many lollipops, his mum pays him 10 pence for every quart of oatmeal that he eats.The only way that he can get lollipops is to buy them at the sweet shop, where lollipops cost 5 pence each.Besides what he earns from eating oatmeal, Alasdair gets an allowance of 10 pence per week.If Alasdair consumes only oatmeal and lollipops and if his consumption bundles are graphed with quarts of oatmeal on the horizontal axis and lollipops on the vertical axis, then Alasdair's budget line has a slope
A) of 2.
B) of less than -2.
C) of -2.
D) of 1/2.
E) greater than 2.
Correct Answer:
Verified
Q31: Suppose that the prices of good x
Q32: The Chuzzlewits have an income of $m
Q33: Isabella thrives on two goods: lemons and
Q34: Edmund must pay $6 each for punk
Q35: Edmund must pay $6 each for punk
Q37: Eduardo spends his entire income on 9
Q38: While traveling abroad, Tammy spent all of
Q39: If you spent your entire income, you
Q40: Harry thrives on two goods, paperback novels
Q41: Perry lives on avocados and beans.The price
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents