Solved

Suppose That a Consumer's Income Triples xx And the Price Of yy

Question 70

Multiple Choice

Suppose that a consumer's income triples. However, at the same time, both the price of xx and the price of yy also triple. This consumer has experienced:


A) an increase in purchasing power.
B) a decrease in purchasing power.
C) no change in purchasing power.
D) a pivot in the budget constraint with an undetermined effect on purchasing power.

Correct Answer:

verifed

Verified

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

Related Questions