The Slope of a Budget Constraint with Combinations of Cookies

question 98

Multiple Choice

The slope of a budget constraint with combinations of cookies that cost $1 a cookie and milk that costs $0.50 a carton (with cookies on the y-axis and milk on the x-axis) is:

• A) 1/2.
• B) 2.
• C) -1/2.
• D) -2.

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Definitions:

Administrative

Pertaining to the execution of laws and the management of public affairs; often related to the functions and activities of government agencies.

Judicial Order

A directive issued by a court or a judge requiring a person or entity to do or refrain from doing something.

Illegal

Activities or actions that are forbidden by law and subject to criminal penalties or other sanctions.

Consumer Law

Statutes, agency rules, and judicial decisions protecting consumers of goods and services.