If one of the products a consumer buys rises in price,the consumer's budget line will
A) shift farther away from the origin of the graph and not change its slope.
B) rotate inward, closer to the origin.
C) vanish.
D) undergo no change.
E) shift farther away from the origin of the graph and become steeper.

Question

Quizplus · Accepted Answer

When the price of a product increases, the consumer's budget line rotates inward, closer to the origin, because the consumer can now afford less of that product with the same budget, effectively changing the slope of the budget line.

If One of the Products a Consumer Buys Rises in Price,the