Final answer:
To draw a budget constraint with burritos on the y-axis and sodas on the x-axis, plot the extreme points where the entire budget is spent on each good, and join these points with a straight line reflecting the slope (opportunity cost) of -0.25.
Step-by-step explanation:
The student's question pertains to drawing a budget constraint, which is a fundamental concept in microeconomics. In this scenario, Alphonso has a budget of $10, and the prices are $2 per burger and $0.50 per bus ticket. The slope of the budget constraint represents the opportunity cost, which here is -0.25. This means if Alphonso buys four bus tickets (costing $2 in total), he has to give up one burger to stay within his budget.
To draw Alphonso's budget constraint, plot burritos on the y-axis and sodas on the x-axis. With a budget of $10, if he spends all his money on burritos, he can buy 5 burritos ($10/$2 per burrito). If he spends all his money on sodas, he can buy 20 sodas ($10/$0.50 per soda). Thus, the intercepts are at 5 burritos and 20 sodas.
The budget line equation, following the form y = b + mx, will use the full budget divided by the price of burritos for the y-intercept (b) and the negative of the slope (m) which denotes the opportunity cost of sodas relative to burritos. Using the provided slope of -0.25, the budget constraint line can be formulated and plotted as a straight line connecting the two intercepts.