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Author Question: If all prices fall by 5 percent and money income remains constant, the new budget line will have ... (Read 75 times)

lilldybug07

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on: Jun 29, 2018
If all prices fall by 5 percent and money income remains constant, the new budget line will have
 
  A) a positive slope.
  B) the same slope.
  C) a steeper slope.
  D) a flatter slope.

Question 2

If the price of a good falls, before the amount consumed changes the marginal utility per dollar from that good
 
  A) decreases.
  B) increases.
  C) might either increase or decrease depending on whether the good is a substitute or a complement.
  D) More information is needed to determine the answer.


Kjones0604

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


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