Multiple Choice
Consider two goods,X and Y,where X is measured on the horizontal axis and Y is measured on the vertical axis.All else constant,a decrease in the price of X will cause the consumer's budget constraint to:
A) rotate in along the X axis
B) rotate out along the X axis.
C) shift out parallel to the original budget constraint.
D) shift in parallel to the original budget constraint.
Correct Answer:

Verified
Correct Answer:
Verified
Q45: Knowledge about the price elasticity of demand
Q46: At a price of $5,consumers buy 200
Q47: A consumer is in equilibrium,that is,a consumer
Q48: Assume a consumer is currently purchasing a
Q49: A demand elasticity coefficient is a measure
Q51: Assume the income elasticity for a particular
Q52: The slope of the budget constraint:<br>A)changes as
Q53: Assume a consumer purchases two goods: X
Q54: Suppose the demand for meals at a
Q55: Assuming we are considering a normal good,the