Multiple Choice
When the price of one good changes,and all others stay the same:
A) the change in relative prices is reflected in a change in the slope of the budget constraint.
B) the change in relative prices can be thought of as a change in the opportunity costs of each good.
C) the change in relative prices is reflected in a change in the marginal utility per dollar spent on each good.
D) All of these statements are true.
Correct Answer:
Verified
Correct Answer:
Verified
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