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a)Explain with reasonswhether you agree or disagree with the following statements. i.If the prices of both goods increase by the same proportion as income, the

a)Explain with reasonswhether you agree or disagreewith the following statements.

i.If the prices of both goods increase by the same proportion as income, the budget constraint shift outward

ii.If income increases with no change in relative prices, the budget line will move parallel to itself.

iii. If all prices double, then the budget line will become steeper.

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