Answer to Question #241719 in Microeconomics for boss

Question #241719

True or false?

When the good on the vertical axis is a composite good, the slope of the budget line is equal to minus the price of the good on the horizontal axis.

Expert's answer

True

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. True or False?If a consumer's fixed income increases, his opportunity cost also increases.
2. True or False?In a graph of choice sets, a price change causes the slope of budget lines to change.
3. true or false?If all consumers are price-takers facing the same prices, then all choice sets are the
4. From the figures given below;OUTPUT(UNITS) TOTAL REVENUE50
5. Consider the utility function U = min (5x, 7y). To increase satisfaction the consumer must consum S
6. Consider a pure exchange economy of two individual A and B and two goods X and Y assume both the ind
7. Consider the following events: Scientists reveal that consumption of oranges decreases the risk of d