Solved: How will tims consumption possibilities change, Microeconomics

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How will tims consumption possibilities change

Problem

Tim buys 2 pizzas and sees 1 movie a week when he has $16 to spend, a movie ticket is $8, and the price of a pizza is $4. What is the relative price of a movie ticket? If the price of a movie ticket falls to $4, how will Tim's consumption possibilities change? Explain.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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