Multiple Choice
Suppose there is a reduction in the price of food while consumers' income and the price of non-food stay the same,which of the following statement is true?
A) spending on food consumption will always increase.
B) budget line will rotate out from the endpoint on the axis of food.
C) budget line will rotate out from the endpoint on the axis of non-food.
D) the slope of the budget line will stay the same.
Correct Answer:
Verified
Correct Answer:
Verified
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Q3: If the prices of food and non-food
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