A decrease in income will cause a shift in the budget constraint
A) outward.
B) towards the good most consumed.
C) towards the good least consumed.
D) inward.
Correct Answer:
Verified
Q101: Figure 21-6 Q102: Figure 21-6 Q103: Beer and pretzels are normal goods.When the Q107: The consumer's optimum choice is represented by Q108: An optimizing consumer will select the consumption Q110: An outward shift of the budget constraint Q164: An optimizing consumer will select a consumption Q202: When the indifference curve is tangent to Q255: Pepsi and pizza are normal goods. When Q259: A normal good is one in which
A)MUₓ/MUᵧ
A)
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