Multiple Choice
Figure 21-3
In each case, the budget constraint moves from BC-1 to BC-2.
-Refer to Figure 21-3. Which of the graphs in the figure could reflect a simultaneous decrease in the price of good X and increase in the price of good Y? (i)
Graph a
(ii)
Graph b
(iii)
Graph c
(iv)
Graph d
A) (ii) only
B) (iii) only
C) (ii) or (iv) only
D) None of the above is correct.
Correct Answer:

Verified
Correct Answer:
Verified
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