(Figure: Quarts of Milk and Jars of Honey) Assuming that the current budget line is line 1, if the price of milk in the figure decreases, the budget line shifts from ______ to ______.
A) 3; 1
B) 3; 2
C) 2; 1
D) 1; 2
Correct Answer:
Verified
Q17: (Figure: Bowling and Chinese Buffet) If the
Q18: (Figure: Bowling and Chinese Buffet) If the
Q19: (Figure: Movie Tickets and Gasoline) How many
Q20: (Figure: Movie Tickets and Gasoline) If the
Q21: (Figure: Movie Tickets and Gasoline) Based on
Q23: (Figure: Quarts of Milk and Jars of
Q24: (Figure: Quarts of Milk and Jars of
Q25: When income decreases, the budget line
A) rotates
Q26: When income increases, the budget line
A) rotates
Q27: Moving along the budget line
A) total utility
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