Business, 19.01.2021 19:30 zayo8468

Suppose Tyrone spends his entire income on books and clothing. If the prices of both books and clothing fall by 10%, which of the following statements is true? A. The budget constraint shifts outward.
B. The budget constraint becomes steeper (the slope is larger in absolute value).
C. The budget constraint becomes flatter (the slope is smaller in absolute value).
D. Tyrone is not able to move to a new indifference curve.

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Suppose Tyrone spends his entire income on books and clothing. If the prices of both books and cloth...