A consumer's budget equation for pop ( p ) and movies ( m ) is Q p = 20 - 4 Q ...
✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.
A consumer's budget equation for pop (p) and movies (m) is Qp = 20 - 4Qm, when the price of a pop is $5 a can. If the price of a pop falls to $4 a can, what is the consumer's new budget equation?