Finding relative price from budget constraint on indifference curves, economics homework help
FYI – All the point are supposed to lie on the indifference curves for these questions even if they appear a touch off.
OUR PROCESS
Order
Payment
Writing
Delivery
Why Choose Us: Cost-efficiency, Plagiarism free, Money Back Guarantee, On-time Delivery, Total Сonfidentiality, 24/7 Support, 100% originality
Based on the budget constraint and 3 indifference curves shown here we know that:
| A. | If pizzas cost $1 then apples must cost $0.20 |
| B. | If pizzas cost $1 then apples must cost $4 |
| C. | If pizzas cost $1 then apples must cost $0.25 |
| D. | If pizzas cost $1 then apples must cost $5 |
| E. | If pizzas cost $1 then apples must cost $1 |
How do I find the relative price?
I tried finding the differences from the slopes but got different slopes.
Please explain
