{"id":546,"date":"2025-05-08T04:59:18","date_gmt":"2025-05-08T04:59:18","guid":{"rendered":"https:\/\/yaveni.com\/blog\/?p=546"},"modified":"2025-05-08T04:59:20","modified_gmt":"2025-05-08T04:59:20","slug":"ron-spends-150-on-movie-tickets-and-pizza","status":"publish","type":"post","link":"https:\/\/gaviki.com\/blog\/ron-spends-150-on-movie-tickets-and-pizza\/","title":{"rendered":"Ron spends $150 on movie tickets and pizza"},"content":{"rendered":"\n

Ron spends $150 on movie tickets and pizza. The price of a pizza is $10 and a movie ticket is $7.50. With the quantity of movies measured along the vertical axis, the slope of Ron’s budget line (with movies on the vertical axis) is __<\/em><\/strong> per pizza<\/p>\n\n\n\n

A) 1.33 movies<\/p>\n\n\n\n

B) -1.33 movies<\/p>\n\n\n\n

C) 0.75 of a movie<\/p>\n\n\n\n

D) -0.75 of a movie<\/p>\n\n\n\n

The correct answer and explanation is :<\/strong><\/mark><\/p>\n\n\n\n

Correct Answer: B) -1.33 movies<\/strong><\/p>\n\n\n\n

Explanation:<\/h3>\n\n\n\n

Ron\u2019s total budget is \\$150<\/strong>, and he spends it on pizzas<\/strong> (at \\$10 each) and movie tickets<\/strong> (at \\$7.50 each). To find the slope of his budget line<\/strong>, we must consider the opportunity cost of one good in terms of the other.<\/p>\n\n\n\n

In budget line analysis, the slope<\/strong> represents the trade-off<\/strong> between two goods\u2014in this case, how many movies Ron must give up to get one more pizza<\/strong>. Since movies are measured on the vertical axis<\/strong>, and pizzas on the horizontal axis<\/strong>, the slope is calculated as:<\/strong><\/p>\n\n\n\n

$$
\\text{Slope} = – \\frac{\\text{Price of pizza}}{\\text{Price of movie}} = – \\frac{10}{7.5} = -1.33
$$<\/p>\n\n\n\n

So, the slope is -1.33 movies per pizza<\/strong>.<\/p>\n\n\n\n

This means that for every pizza Ron buys, he must give up 1.33 movie tickets<\/strong> to stay within his \\$150 budget. The negative sign indicates a trade-off: gaining one more unit of pizza comes at the cost of fewer movie tickets.<\/p>\n\n\n\n

Understanding the Budget Line:<\/h3>\n\n\n\n

The budget line<\/strong> shows all possible combinations of pizzas and movie tickets Ron can afford with his \\$150. The equation of the budget line is:<\/p>\n\n\n\n

$$
10P + 7.5M = 150
$$<\/p>\n\n\n\n

Where:<\/p>\n\n\n\n

    \n
  • $P$ = number of pizzas<\/li>\n\n\n\n
  • $M$ = number of movie tickets<\/li>\n<\/ul>\n\n\n\n

    To express movies as a function of pizzas (since movies are on the vertical axis), solve for $M$:<\/p>\n\n\n\n

    $$
    7.5M = 150 – 10P \\
    M = 20 – 1.33P
    $$<\/p>\n\n\n\n

    This is a straight line with a y-intercept of 20<\/strong> (all movies, no pizza) and a slope of -1.33<\/strong>, showing the rate at which movies must be given up to gain pizzas.<\/p>\n\n\n\n

    Thus, the correct answer is B) -1.33 movies<\/strong> per pizza. Would you like a graph of the budget line?<\/p>\n","protected":false},"excerpt":{"rendered":"

    Ron spends $150 on movie tickets and pizza. The price of a pizza is $10 and a movie ticket is $7.50. With the quantity of movies measured along the vertical axis, the slope of Ron’s budget line (with movies on the vertical axis) is __ per pizza A) 1.33 movies B) -1.33 movies C) 0.75 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-546","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts\/546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/comments?post=546"}],"version-history":[{"count":1,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts\/546\/revisions"}],"predecessor-version":[{"id":547,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/posts\/546\/revisions\/547"}],"wp:attachment":[{"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/media?parent=546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/categories?post=546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gaviki.com\/blog\/wp-json\/wp\/v2\/tags?post=546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}