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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