Solved

If a Budget Line Rotates Inward and Becomes Steeper,then the

Question 116

Multiple Choice

If a budget line rotates inward and becomes steeper,then the


A) consumer's budget decreased.
B) consumer's budget increased.
C) price of one of the goods decreased.
D) price of one of the goods increased.
E) price of both of the goods must have decreased.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q41: Describe the consumer equilibrium in the indifference

Q102: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" The figure

Q111: As Sam moves rightward along his indifference

Q112: If Mark's marginal utility per dollar from

Q113: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1458/.jpg" alt=" -Sam's total utility

Q115: The consumption of bottled water increased dramatically

Q117: When the relative price of computers falls,consumption

Q118: "As Mike consumes more dates over the

Q119: In an indifference curve/budget line diagram,generally when

Q120: If one of the products a consumer