Consider the following graphs depicting budget constraints, then answer the questions below.
a.Which panel shows an increase in the price of X?
b.Does panel C show an increase or decrease in the price of good Y?
c.Which panel shows an increase in the consumers income, if prices remain unchanged?
d.Which panel - if any - shows an equally propionate decrease in the price of both goods?

Question

Consider the following graphs depicting budget constraints, then answer the questions below.  
a.Which panel shows an increase in the price of X?
b.Does panel C show an increase or decrease in the price of good Y?
c.Which panel shows an increase in the consumers income, if prices remain unchanged?
d.Which panel - if any - shows an equally propionate decrease in the price of both goods?

Quizplus · Accepted Answer

The Answer of Consider the following graphs depicting budget constraints, then answer the questions below.  
a.Which panel shows an increase in the price of X?
b.Does panel C show an increase or decrease in the price of good Y?
c.Which panel shows an increase in the consumers income, if prices remain unchanged?
d.Which panel - if any - shows an equally propionate decrease in the price of both goods?

Consider the Following Graphs Depicting Budget Constraints, Then Answer the Questions