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Song's budget for coffee and pizza is $100 per month. The price of a cup of coffee is $5 and pizza is $10. Draw Song's

Song's budget for coffee and pizza is $100 per month. The price of a cup of coffee is $5 and pizza is $10.

  • Draw Song's budget constraint (label the budget constraint "a")
  • What is the slope of Song's budget constraint?
  • Song's monthly budget for coffee and pizza falls to $80. Illustrate the change on the graph in part a (label the budget constraint "b")
  • Based on Song's new monthly budget of $80, the price of pizza falls to $5. Illustrate the change on the graph in a (label the budget constraint "c"

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