Multiple Choice
Figure 21-5
(a)
(b) 
-Refer to Figure 21-5. Assume that a consumer faces the budget constraint shown in graph (a) in January and the budget constraint shown in graph (b) in February. If the consumer's income has remained constant, then what has happened to prices between January and February?
A) The price of X has fallen, but there could not have been a change in the price of Y.
B) The price of Y has fallen, but there could not have been a change in the price of X.
C) The price of X has fallen, and the price of Y has risen.
D) The price of Y has fallen, and the price of X has risen.
Correct Answer:
Verified
Correct Answer:
Verified
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