7. Suppose the consumer buys pizza and soda. The price of pizza is $15 and the price of soda is $3. The consumer’s income is $180. Suppose that soda is measured on the x-axis and pizza is measured on the y-axis. (a) The slope of the budget line is -1/5. The intercept on the y axis is 12 and the intercept on the x axis is 60 (b) The slope of the budget line is -1/5. The intercept on the y axis is 15 and the intercept on the x axis is 3 (c) The slope of the budget line is -5. The intercept on the y axis is 12 and the intercept on the x axis is 60 (d) The slope of the budget line is -5. The intercept on the y axis is 60 and the intercept on the x axis is 12

7. Suppose the consumer buys pizza and soda. The price of pizza is $15 and the price of soda is $3. The consumer’s income is $180. Suppose that soda is measured on the x-axis and pizza is measured on the y-axis. (a) The slope of the budget line is -1/5. The intercept on the y axis is 12 and the intercept on the x axis is 60 (b) The slope of the budget line is -1/5. The intercept on the y axis is 15 and the intercept on the x axis is 3 (c) The slope of the budget line is -5. The intercept on the y axis is 12 and the intercept on the x axis is 60 (d) The slope of the budget line is -5. The intercept on the y axis is 60 and the intercept on the x axis is 12

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterA: The Use Of Mathematics In Principles Of Economics

Section: Chapter Questions

Problem 1RQ: Exercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type...

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Exercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.
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