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3. Consider the following budget constraint for two goods, X and Y, where X costs $10, Y costs $5, and income is $100: 10X +

3. Consider the following budget constraint for two goods, X and Y, where X costs $10, Y costs $5, and income is $100:

10X + 5Y 100.

If income changes from $100 to $150, how would the budget constraint change graphically (with X on the x-axis and Y on the y-axis)?

a. Parallel shift to the right.

b. Steeper with a smaller set of attainable choices.

c. Flatter with a smaller set of attainable choices.

d. Steeper with a larger set of attainable choices.

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