Question

The slope of the _________________ is determined by the relative price of the two goods, which is calculated by taking the price of one good and dividing it by the price of the other good.A) personal preferenceB) utility levelC) budget constraintD) opportunity set

Answer 1

C) budget constraint

Step-by-step explanation:

The budget constraint is a graph of all the combinations of goods and services a consumer can purchase given prices and income of the consumer.

The absolute slope of the budget constraint is the relative price of the two goods represented on the graph.

I hope my answer helps you