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Chapter 2: 26 (page 44)

Draw Marie鈥檚 budget constraint with pies on the horizontal axis and magazines on the vertical axis. What is the slope of the budget constraint?

Short Answer

Expert verified

The slope of the budget constraint is -3.

Step by step solution

01

Graph

From the previous question maximum number of magazines and pies, she could buy this week is 6 and 2 respectively.

Price of each magazine and pie is $4and$12 respectively.

02

Apply the formula

m=y2-y1x2-x1

m=6-00-2m=-3

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