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figure below. Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change? Question 3 Answer a. an increase
figure below. Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change? Question 3 Answer a. an increase in the price of good X and no change in the price of Y b. a decrease in income c. a decrease in income and an increase in the price of good X relative to that of good Y d. a decrease in the price of good X relative to that of good Y
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Principles of economics
Authors: N. Gregory Mankiw
6th Edition
978-0538453059, 9781435462120, 538453052, 1435462122, 978-0538453042
