Multiple Choice
When a budget constraint shifts out:
(i) the consumer is better off
(ii) the consumer can now reach a higher indifference curve
(iii) it could only have been caused by an increase in income
A) (i) only
B) (i) and (ii)
C) (i) and (iii)
D) (ii) and (iii)
Correct Answer:
Verified
Correct Answer:
Verified
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