Assume That a Consumer Has a Given Budget or Income

question 112

Multiple Choice

Assume that a consumer has a given budget or income of $12, and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. Refer to the information given above. What is the slope of the budget line, if the quantity of apples were measured on the horizontal axis and bananas on the vertical axis?

• A) -0.5
• B) -0.8
• C) -1.6
• D) -2.0

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