Business, 15.10.2020 09:01 zatolentino

1. If the price of (x) falls, the budget constraint a. Shifts outward in a parallel fashion.
b. Shifts inward in a parallel fashion.
c. Rotates outward about the x-intercept.
d. Rotates outward about the y-intercept.

2. If the prices of all goods increase by the same proportion as income, the quantity demanded of good (x) will

a. Decrease
b. Increase
c. Remain unchanged
d. Change in a way that cannot be determined from the information given

Answers: 3

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1. If the price of (x) falls, the budget constraint a. Shifts outward in a parallel fashion.
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