Homework Clinic
Social Science Clinic => Economics => Topic started by: Redwolflake15 on Jun 29, 2018
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Ron spends 150 on movie tickets and pizza. The price of a pizza is 10 and a movie ticket is 7.50.
With the quantity of movies measured along the vertical axis, the slope of Ron's budget line (with movies on the vertical axis) is ________ per pizza A) 1.33 movies
B) -1.33 movies
C) 0.75 of a movie
D) -0.75 of a movie
Question 2
In the above figure, suppose that the government sets a limit to production at 10 units of output and the price rises to 4. In comparison to a competitive market the consumer surplus would fall by
A) 0.
B) 10.
C) 15.
D) 20.
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Answer to Question 1
B
Answer to Question 2
C
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Thank you :)
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Happy to help you