What is the slope of the budget constraint

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Reference no: EM131244227

Assume that you have a budget of $30 to spend on milk and cereal only. The price of milk is PM = $5 and the price of cereal is PC = $3.50.

a) Graph the budget constraint. Be sure to put the quantity of milk (QM) on the horizontal axis.

b) What is the slope of the budget constraint?

Reference no: EM131244227

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