Multiple Choice
Gertrude has a $15 budget to spend on soda and crackers.Soda costs $1 per bottle and crackers cost 50¢ each.The quantity of soda is measured on the vertical axis.If the price of soda increases to $2 per bottle and the price of crackers increase to $1 each,the
A) indifference curves shift inward.
B) indifference curves shift outward.
C) budget line shifts inward.
D) budget line shifts outward.
E) demand curve for soda shifts leftward.
Correct Answer:
Verified
Correct Answer:
Verified
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