Scenario 21-1 Suppose the Price of Nachos Is $12, the Price of Price

question 197

Multiple Choice

Scenario 21-1
Suppose the price of nachos is $12, the price of water is $3, and the consumer's income is $216. In addition, suppose the consumer's budget constraint illustrates nachos on the horizontal axis and water on the vertical axis.
-Refer to Scenario 21-1. If the price of water doubles to $6, then the

• A)budget constraint intersects the vertical axis at 36 waters.
• B)slope of the budget constraint rises to −1.
• C)slope of the budget constraint falls to −5.
• D)budget constraint shifts inward in a parallel fashion.

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Definitions:

Electroconvulsive Therapy

A psychiatric treatment in which electric currents are passed through the brain, intentionally triggering a brief seizure, to treat severe mental disorders.

Drug Therapy

The treatment of a disease or condition with medication.

Clozaril

A brand name for Clozapine, an antipsychotic medication used to treat schizophrenia, especially in cases where other antipsychotics are ineffective.

Negative Symptoms

Characteristics that indicate the absence or diminution of normal functions, often associated with certain mental health conditions, such as a lack of emotion or motivation.