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1.(4 points) A decrease in income will cause a consumer's budget constraint to: a.Bow out from the origin b.Shift outward, parallel to its initial position
1.(4 points) A decrease in income will cause a consumer's budget constraint to:
a.Bow out from the origin
b.Shift outward, parallel to its initial position
c.Shift inward, parallel to its initial position
d.Pivot around the horizontal axis
e.Pivot around the vertical axis
f.Increase its slope while maintaining the same y-axis endpoint
g.Increase its slope while maintaining the same x-axis endpoint
h.Both a. and e.
Both d. and
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