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Which of the following statements regarding budget constraints is true? a. An increase in the price of a good would increase the opportunity set. b.
Which of the following statements regarding budget constraints is true? a. An increase in the price of a good would increase the opportunity set. b. An increase in income would cause a parallel outward shift in the budget line. c. A decrease in income would cause a parallel outward shift in the budget line. d. A decrease in the price of a good would cause a parallel outward shift in the budget line
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