If the Consumer's Budget Constraint Is Given by 10F

question 23

Multiple Choice

If the consumer's budget constraint is given by 10F + 5S = 100 where F is food and S is shelter, what is the opportunity cost of food in terms of shelter?

• A)5
• B)2
• C)15
• D)10

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Definitions:

Junior High School

An educational institution for children typically in grades 7 through 9, serving as a transition from elementary school to high school.

Transition to Adolescence

The period in a young person's life when they develop from a child into an adolescent, marked by significant physical, psychological, and social changes.

Socioemotional Changes

The evolution and transformation of an individual's social relationships and emotional understanding throughout their lifespan.

Socioeconomic Status

A combined measure of an individual's or family's economic and social position relative to others, based on factors such as income, education, and occupation.