Refer to the figure below. Suppose that the initial budget constraint AB is given by the equation G = 150 - c/5, where G is the units of public good and c is consumption. A closed-ended matching grant up to 100 units of public good is proposed. If the slope of line segment AD is -2, write the equation of the new budget constraint after a closed-ended matching grant.
Definitions:
Director of Housing
A position responsible for overseeing housing programs, policies, and services, typically within a governmental or nonprofit organization.
Marginal Benefit (MB) Curves
Graphs that show the additional benefit received from consuming one more unit of a good or service.
Law of Diminishing Marginal Utility
The Law of Diminishing Marginal Utility states that as a person consumes more of a product, the satisfaction (utility) gained from consuming each additional unit decreases.
Slope Downward
A graphical representation indicating a decrease or decline in a variable as another variable increases, common in supply and demand curves.
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