Illustrate what is the slope of the budget line if a

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Q. Assume that a consumer can buy only two goods, A and B, and has an income of $100. The price of A is $10 and the price of B is $20. What is the slope of the budget line if A is measured horizontally and B is measured vertically?

Q. A competitive market for gadgets is currently in equilibrium. Now the government imposes a price ceiling in the gadget market. Which of the following is most likely to happen to consumer surplus and to producer surplus?

Reference no: EM1353080

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