Short Answer
Consider the following graphs depicting budget constraints, then answer the questions below. 
a.Which panel shows an increase in the price of X?
b.Does panel C show an increase or decrease in the price of good Y?
c.Which panel shows an increase in the consumers income, if prices remain unchanged?
d.Which panel - if any - shows an equally propionate decrease in the price of both goods?
Correct Answer:
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a.panel A
b.increase...View Answer
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Correct Answer:
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b.increase...
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