Suppose a consumer has a budget for fast-food items of $60 per week and spends this money on two goods, hamburgers and pizzas. Suppose hamburgers cost $10 each and pizzas cost $20. Put the quantity of hamburgers purchased per month on

Suppose a consumer has a budget for fast-food items of $60 per week and spends this money on two goods, hamburgers and pizzas. Suppose hamburgers cost $10 each and pizzas cost $20. Put the quantity of hamburgers purchased per month on

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section6.A: Indifference Curve Analysis

Problem 1SQP

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Question

Suppose a consumer has a budget for fast-food items of $60 per week and spends this money on two goods, hamburgers and pizzas.

Suppose hamburgers cost $10 each and pizzas cost $20.

Put the quantity of hamburgers purchased per month on the horizontal axis and the quantity of pizzas purchased per month on the vertical axis.

Draw the budget line.

What is its slope?

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