Suppose Nick has a weekly budget of $32 to spend on seltzer water and spinach. Seitzer water is priced at $4 per case, and spinach is priced at $2 per container. If Nick spends his entire $32 on seltzer water, he can buy containers of spinach. cases of seltzer water. If he spends his entire $32 on spinach, he can buy Use the blue line (circle symbol) to plot Nick's budget constraint on the following graph. Next, use the orange point (square symbol) to shade the area that represents combinations of seltzer water and spinach that are affordable for Nick, Finally, place the black point (plus symbol) on the point on Nick's budget constraint that corresponds to a scenario in which Nick spends $16 on each good. Note: Dashed drop lines will automatically extend to both axes. Nick's budget constraint that corresponds to a scenario in which Nick spepds $16 on each good. Note: Dashed drop lines will automatically extend to both axes. What does the slope of Nick's budget constraint represent? The opportunity cost of an additional case of seltzer water in terms of containers of spinach The cost of an additional container of spinach in terms of dollars The cost of an additional case of seltzer water in terms of doliars The opportunity cost of an additional container of spinach in terms of cases of seltzer water Suppose Nick recelves $8 from his relative and decides to commit this money to purchasing more seltzer water and spinach. Using the green line (triangle symbol), draw Nick's new budget constraint on the preceding graph. True or False: Nick faces the same tradeoff between seltzer water and spinach. True False