What is the slope of the budget line from trading with Friday (coconuts for fish)?
Undefined.
To find the slope of the budget line from trading with Friday, you need to know the exchange rate between coconuts and fish. This exchange rate represents how many coconuts you can get in exchange for one fish.
Let's say the exchange rate is 3 coconuts for 1 fish. This means that for every fish you give to Friday, you will receive 3 coconuts in return.
To calculate the slope of the budget line, you need to use the formula:
Slope = Change in quantity of coconuts / Change in quantity of fish
Let's assume that you have a budget line that shows you can trade a maximum of 12 coconuts for 4 fish. This means that as you give more fish to Friday, you will receive more coconuts in return.
The change in quantity of coconuts is 12 coconuts - 0 coconuts = 12 coconuts.
The change in quantity of fish is 4 fish - 0 fish = 4 fish.
Using the formula, the slope of the budget line is:
Slope = (12 coconuts - 0 coconuts) / (4 fish - 0 fish)
= 12 coconuts / 4 fish
= 3 coconuts/fish
Therefore, the slope of the budget line from trading with Friday (coconuts for fish) is 3 coconuts/fish.