Solved

In Year 1, the Price of Good X Was $4

Question 1

Multiple Choice

In year 1, the price of good x was $4, the price of good y was $1, and income was $70.In year 2, the price of x was $9, the price of good y was $2, and income was $70.On a graph with x on the horizontal axis and y on the vertical, the new budget line is


A) steeper than the old one and lies below it.
B) steeper than the old one and lies above it.
C) flatter than the old one and lies below it.
D) flatter than the old one and lies above it.
E) None of the above.

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents