Solved: What is the effect of fall in saras income on relative price, Microeconomics

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What is the effect of fall in saras income on relative price

Problem

Sara's income falls from $12 to $9 a week, while the price of popcorn is unchanged at $3 a bag and the price of a smoothie is unchanged at $3

What is the effect of the fall in Sara's income on the relative price of a smoothie in terms of popcorn? What is the slope of Sara's new budget line if it is drawn with smoothies on the x -axis?

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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