Multiple Choice
What would happen if the price of novels increased and novels are measured on the horizontal axis of a budget line diagram?
A) The budget line would shift to the right.
B) The budget line would rotate outward along the horizontal axis.
C) The budget line would rotate inward along the horizontal axis.
D) The budget line would rotate outward along the vertical axis.
E) The budget line would rotate inward along the vertical axis.
Correct Answer:

Verified
Correct Answer:
Verified
Q61: A candy bar sells for 50 cents,
Q62: The marginal rate of substitution indicates<br>A)how much
Q63: A family on a trip budgets $200
Q64: All combinations of goods along the same
Q65: The slope of the budget line is
Q67: What would happen to the budget line
Q68: Exhibit 6-24 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-24
Q69: Chris budgets $30 this week for spending
Q70: Exhibit 6-28 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-28
Q71: All combinations of goods along the same