Multiple Choice
An increase in an individual's income without changing relative prices will
A) rotate the budget constraint about the X-axis.
B) shift the indifference curves outward.
C) shift the budget constraint outward in a parallel way.
D) rotate the budget constraint about the Y axis.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: If a person's indifference curves can be
Q3: As an individual moves northwest along an
Q4: The X-intercept of the budget constraint represents<br>A)how
Q5: Suppose a little girl likes peanut butter
Q6: The point of tangency between a consumer's
Q7: Suppose a cup of coffee at the
Q8: Indifference curves<br>A)are nonintersecting.<br>B)are contour lines of a
Q9: The slope of the budget constraint
Q10: If an individual's indifference curve map does
Q11: If an individual has a constant MRS