Tim buys 2 smoothies and sees 1 movie a week when he has $16 to spend, the
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Tim buys 2 smoothies and sees 1 movie a week when he has $16 to spend, the price of a movie ticket is $8, and the price of a smoothie 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.
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