Solved

Figure 3.2.3 -Suppose a Consumer Only Purchases Food and Clothing, and Food

Question 107

Multiple Choice

  Figure 3.2.3 -Suppose a consumer only purchases food and clothing, and food is plotted along the horizontal axis of the consumer's indifference map. If the price of food and clothing increase and income does not change, then the budget line changes by rotating: A)  counter-clockwise about the fixed vertical axis intercept. B)  clockwise about the fixed vertical axis intercept. C)  counter-clockwise about the fixed horizontal axis intercept. D)  clockwise about the fixed horizontal axis intercept. E)  none of the above Figure 3.2.3
-Suppose a consumer only purchases food and clothing, and food is plotted along the horizontal axis of the consumer's indifference map. If the price of food and clothing increase and income does not change, then the budget line changes by rotating:


A) counter-clockwise about the fixed vertical axis intercept.
B) clockwise about the fixed vertical axis intercept.
C) counter-clockwise about the fixed horizontal axis intercept.
D) clockwise about the fixed horizontal axis intercept.
E) none of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions