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Which of the following describes what will happen to Peter's budget constraint on his annual trip to the amusement park when the price of game
Which of the following describes what will happen to Peter's budget constraint on his annual trip to the amusement park when the price of game tokens remains the same as last year but the price of ride tickets decreases?
- The budget constraint will pivot out along the axis with ride tickets.
- The budget constraint will remain the same.
- Indifference curves will cross.
- The budget constraint will shift to the right, parallel.
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