Do food stamps affect the slope of the budget constraint of their recipients or rather shift the budget constraint? Explain

What will be an ideal response?

The poor still face the same price for food. Therefore, their budget constraint has not changed slope but has merely shifted.

Economics

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The fixed cost curve:

A. is a constant, vertical line. B. is steep when output levels are low, then flattens as output increases. C. is flatter when output levels are low, then gets steeper as output increases. D. is a constant, flat line.

Economics

Relative to a profit-maximizing competitively organized industry that is producing 6,000 units of output at a price of $7 per unit, firms acting collusively under the same circumstances would produce ________ units of output and charge a price of ________ per unit.

A. more than 6,000; more than $7 B. 6,000; $7 C. less than 6,000; more than $7 D. less than 6,000; less than $7

Economics