On a Graph We Draw a Consumer's Budget Constraint, Measuring

question 303

Multiple Choice

On a graph we draw a consumer's budget constraint, measuring the number of apples on the horizontal axis and the number of light bulbs on the vertical axis. If the slope of the budget constraint is -2, then

• A) an apple costs twice as much as a light bulb.
• B) the opportunity cost of a light bulb is 2 apples.
• C) the opportunity cost of an apple is one-half of a light bulc.
• D) All of the above are correct.

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