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Posted: August 31st, 2021
Finding relative price from budget constraint on indifference curves, economics homework help
Question description
FYI - All the point are supposed to lie on the indifference curves for these questions even if they appear a touch off.Based on the budget constraint and 3 indifference curves shown here we know that:A.If pizzas cost $1 then apples must cost $0.20B.If pizzas cost $1 then apples must cost $4C.If pizzas cost $1 then apples must cost $0.25D.If pizzas cost $1 then apples must cost $5E.If pizzas cost $1 then apples must cost $1How do I find the relative price?I tried finding the differences from the slopes but got different slopes.Please explain
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