The magnitude of the slope of the budget line measures the
A) opportunity cost of the good on the horizontal axis in terms of the good on the vertical axis.
B) opportunity cost of the good on the vertical axis in terms of the good on the horizontal axis.
C) price elasticity of demand.
D) price elasticity of supply.
Question 2
You are in the business of producing and selling hamburgers, french fries, pizza, and ice cream. The mayor plans to impose a tax on one of these products.
Based on the elasticities in the above table, as a profit-minded business person who seeks to avoid taxes whenever possible, which good would you least like to have taxed? A) hamburgers
B) pizza
C) French fries
D) ice cream
Ronald Reagan rides a horse—a familiar photo opportunity for presidents. But Reagan was an amiable ...
How to graph line equations without a table of values
Kneeling on one knee to keep good alignment when massaging the arms and hands.
How to find the equation of a line passing through two points
Nuts are also a good source of dietary fibre
Bright-Line Spectra of Hydrogen and Helium