Multiple Choice
Given the budget lines and indifference curves shown in Exhibit 6A-7, if the budget line shifts, then the equilibrium points X and Y:
A) are equal in total utility.
B) result from a decrease in the consumer's budget.
C) result from a decrease in the price of good Y.
D) are two points along a downward sloping demand curve for good X.
Correct Answer:
Verified
Correct Answer:
Verified
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