Refer to the diagram. Suppose the budget line shifts so that the consumer's equilibrium changes from point A to point B. This means that the
A)price of Y has increased.
B)price of Y has decreased.
C)price of X has increased.
D)consumer's money income has increased.

Question

Refer to the diagram. Suppose the budget line shifts so that the consumer's equilibrium changes from point A to point B. This means that the
A)price of Y has increased. 
B)price of Y has decreased. 
C)price of X has increased. 
D)consumer's money income has increased.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram. Suppose the budget line shifts so that the consumer's equilibrium changes from point A to point B. This means that the
A)price of Y has increased. 
B)price of Y has decreased. 
C)price of X has increased. 
D)consumer's money income has increased.

Refer to the Diagram