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Initial budget equation

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The initial budget equation for pop (p) and movies (m) is Qp = 20 - 4Qm, and the price of a movie is $20. If the price of a movie falls to $15, what is the new budget equation?

A) Qp = 15 - 11Qm

B) Qp = 20 - 15Qm

C) Qp = 15 - 4Qm

D) Qp = 20 - 3Qm

E) Qp = 25 - 5Qm

can you explain the equations and the steps to solve it

Reference no: EM131459707

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