Budget Lines
The following questions refer to the following diagram, which shows the budget lines faced by a consumer last year and this year.
-Refer to Budget Lines.Which of the following changes is consistent with the situation shown in the diagram?
A) The consumer's income fell.
B) The relative price of good X in terms of good Y fell.
C) The absolute price of good X rose,and the absolute price of good Y fell.
D) The absolute price of both goods rose,with the price of good X rising by the higher percentage.
Correct Answer:
Verified
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