Question
Just the answer please, no need to show the work. Suppose there are two goods, the prices of both goods arepositive and a consumer's income
Just the answer please, no need to show the work.
Suppose there are two goods, the prices of both goods arepositive and a consumer's income is also positive. If theconsumer's income doubles and the price of both goods triple,
the consumer's budget line gets steeper and shifts inward.
the slope of the consumer's budget line does not change but thebudget line shifts outward away from the origin.
the slope of the consumer's budget line does not change but thebudget line shifts inward toward the origin.
the consumer's budget line gets steeper and shifts outward.
Just the answer please, no need to show the work.
Suppose there are two goods, the prices of both goods arepositive and a consumer's income is also positive. If theconsumer's income doubles and the price of both goods triple,
the consumer's budget line gets steeper and shifts inward. | ||
the slope of the consumer's budget line does not change but thebudget line shifts outward away from the origin. | ||
the slope of the consumer's budget line does not change but thebudget line shifts inward toward the origin. | ||
the consumer's budget line gets steeper and shifts outward. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managerial Economics A Problem-Solving Approach
Authors: Luke M. Froeb, Brain T. Mccann
2nd Edition
B00BTM8FK0
