Multiple Choice
Assume the price of product Y (the quantity of which is plotted on the vertical axis) is initially $15 and the price of X (the quantity of which is plotted on the horizontal axis) is initially $3. Assume money income is initially $60. If the prices of Y and X now increase to $30 and $6, respectively, and money income increases to $120, then the budget line will
A) shift rightward and become steeper.
B) shift rightward and become flatter.
C) shift rightward, but its slope will not change.
D) be unchanged.
Correct Answer:
Verified
Correct Answer:
Verified
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