Multiple Choice
The quantity of good M is measured along the vertical axis, and the quantity of good N is measured along the horizontal axis. If the prices of both goods M and N declines by 50% each, then the budget line
A) shifts inward to the left by 50%.
B) shifts outward to the right by 50%.
C) shifts outward to the right by 100%.
D) rotates clockwise by 180 degrees.
Correct Answer:
Verified
Correct Answer:
Verified
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