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Scenario 21-1 Suppose the price of hot wings is $10, the price of beer is $1, and the consumer's income is $50. In addition, suppose
Scenario 21-1 Suppose the price of hot wings is $10, the price of beer is $1, and the consumer's income is $50. In addition, suppose the consumer's budget constraint illustrates hot wings on the horizontal axis and beer on the vertical axis. Refer to Scenario 21-1. If the price of beer doubles to $2, then the a. slope of the budget constraint rises to 2. b. slope of the budget constraint falls to 4. c. budget constraint shifts inward in a parallel fashion. d. budget constraint intersects the vertical axis at 25 beers
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