(Figure: Good Y and Good X V) Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change?
A) a decrease in income
B) a decrease in the price of good X relative to that of good Y
C) a decrease in income and an increase in the price of good X relative to that of good Y
D) an increase in the price of good X and no change in the price of Y

Question

(Figure: Good Y and Good X V) Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change? 
A) a decrease in income 
B) a decrease in the price of good X relative to that of good Y 
C) a decrease in income and an increase in the price of good X relative to that of good Y 
D) an increase in the price of good X and no change in the price of Y

Quizplus · Accepted Answer

The Answer of (Figure: Good Y and Good X V) Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change? 
A) a decrease in income 
B) a decrease in the price of good X relative to that of good Y 
C) a decrease in income and an increase in the price of good X relative to that of good Y 
D) an increase in the price of good X and no change in the price of Y

(Figure: Good Y and Good X V) Suppose the Budget