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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. This means
What is the slope of the budget line for apples and bananas if apples were graphed on the horizontal axis and bananas on the vertical?
A) -0.20
B) -0.75
C) -1.00
D) -2.00

Respuesta :

Answer:

option (D) -2.00

Explanation:

Given:

Total budget or income = $12

Price of an apple = $1.50

Price of a banana = $0.75

Now,

Let "x" be the number of apple bought and "y" be the number of bananas bought.

Therefore,

1.50x + 0.75y = 12

or

0.75y = -1.50x + 12

or

y = -2x + 16

now,

comparing the above equation with standard equation of line i.e

y = mx + c

where,

m is the slope

c is the constant

thus,

m = -2

c = 16

hence,

the correct answer is option (D) -2.00

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