2. Shifts in a budget constraint Nick brings $25 to a baseball game to spend on sodas and pizza. The following diagram shows his budget constraint: SLICES OF PIZZA 10 9 8 7 co 5 3 2 1 0 0 1 2 3 4 BC 5 SODAS According to the diagram, sodas cost $ 6 + 7 + + 8 9 10 each, and pizza costs $ 6 BC per slice. Adjust the diagram to show how Nick's budget constraint would change if he had brought less money to the ballpark. (Assume the prices of sodas and pizza remain the same.)
2. Shifts in a budget constraint Nick brings $25 to a baseball game to spend on sodas and pizza. The following diagram shows his budget constraint: SLICES OF PIZZA 10 9 8 7 co 5 3 2 1 0 0 1 2 3 4 BC 5 SODAS According to the diagram, sodas cost $ 6 + 7 + + 8 9 10 each, and pizza costs $ 6 BC per slice. Adjust the diagram to show how Nick's budget constraint would change if he had brought less money to the ballpark. (Assume the prices of sodas and pizza remain the same.)
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 12RQ: Why does a change in income cause a parallel shift in the budget constraint?
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Question
![2. Shifts in a budget constraint
Nick brings $25 to a baseball game to spend on sodas and pizza. The following diagram shows his budget constraint:
SLICES OF PIZZA
10
9
8
7
CO
50
4
3
2
1
0
0
1
+
2
3
4
BC
5
SODAS
According to the diagram, sodas cost $
6
+
7
+
8 9 10
each, and pizza costs $
BC
?
per slice.
Adjust the diagram to show how Nick's budget constraint would change if he had brought less money to the ballpark. (Assume the prices of sodas and
pizza remain the same.)
Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will
snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74bd7be2-1096-490a-90c4-ff7c297f5b39%2F80d14aa7-0993-473b-b618-7f62908c8dd9%2F4ioydk_processed.png&w=3840&q=75)
Transcribed Image Text:2. Shifts in a budget constraint
Nick brings $25 to a baseball game to spend on sodas and pizza. The following diagram shows his budget constraint:
SLICES OF PIZZA
10
9
8
7
CO
50
4
3
2
1
0
0
1
+
2
3
4
BC
5
SODAS
According to the diagram, sodas cost $
6
+
7
+
8 9 10
each, and pizza costs $
BC
?
per slice.
Adjust the diagram to show how Nick's budget constraint would change if he had brought less money to the ballpark. (Assume the prices of sodas and
pizza remain the same.)
Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will
snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.
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