Suppose the Budget Constraint Is Given by 200P + 50S

question 23

Multiple Choice

Suppose the budget constraint is given by 200P + 50S = 400, where P is Pizza and S is Spinach.If the prices of S and P increase by 10% each then the budget curve will:

• A)Shift the right with the same slope
• B)Shift to the left with the same slope
• C)Shift to the right but the slope will be different than before
• D)Shift to the left but the slope will be different than before

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Definitions:

1940s

The decade spanning from January 1, 1940, to December 31, 1949, marked by significant events such as World War II.

1950s

A decade noted for post-World War II recovery, the beginning of the Cold War, and significant cultural and technological advancements.

Whistle-Blowing

The act of reporting unethical, illegal, or harmful activities within an organization to authorities or the public, usually by a member of the organization.

Anonymity

The state of being anonymous, where an individual's identity is not known or disclosed.