Multiple Choice
If the consumer's income and all prices simultaneously double,then
A) the optimum consumption bundle will shift outward relative to the old optimum.
B) the optimum consumption bundle will move leftward along the old budget constraint.
C) the optimum consumption bundle will not change.
D) the optimum consumption bundle will shift inward relative to the old optimum.
Correct Answer:
Verified
Correct Answer:
Verified
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