Assume the Price of Good Y with Its Quantity Measured

question 158

Multiple Choice

Assume the price of good Y with its quantity measured on the vertical axis is $20 and the price of good X with its quantity measured on the horizontal axis is $5. If the consumer's budget is $100, then the absolute value of the slope of the budget line is:

• A) 100.
• B) 20.
• C) 1/4.
• D) 4.

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Definitions:

Primary Breadwinner

The individual in a household primarily responsible for providing financial support through earned income.

Branding

The process of creating a unique name, design, and image in a consumer's mind, distinguishing one product or service from another.

Man of the House

A traditional and gendered term referring to the male family member perceived as the primary authority or provider in a household.

Household Products

Items and substances used within households for purposes such as cleaning, personal care, and maintenance.