« previous next »

Author Question: If the price of one good increases while the price of the other good and the consumer's income ... (Read 79 times)

ahriuashd

  • Hero Member
  • *****
  • Posts: 535
on: Jul 1, 2018
If the price of one good increases while the price of the other good and the consumer's income remain unchanged, what will happen to the budget line?
 
  A) The budget line rotates inward from the intercept on the axis of the good that did not change in price.
  B) The budget line rotates outward from the intercept on the axis of the good that did not change in price.
  C) The budget line shifts inward without a change in slope.
  D) The budget line shifts outward without a change in slope.

Question 2

Betty consumes good x and good y. If the price of x = 3 and the price of y = 4, then
 
  A) an extra unit of x costs 4/3 units of y.
  B) an extra unit of y costs 4/3 units of x.
  C) an extra unit of x costs 3/4 units of y.
  D) Both B and C.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


zoeyesther

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

The proportion of men and women with elevated blood pressure or taking hypertension medication incre The proportion of men and women with elevated blood pressure or taking hypertension medication incre
The risk of dying before the age of 65 gets lower as family income gets higher. The risk of dying before the age of 65 gets lower as family income gets higher.
Are good deeds selfish? Are good deeds selfish?
Good body mechanics for lifting heavy objects. Good body mechanics for lifting heavy objects.
The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling
The Parade of World Income The Parade of World Income
Video: Retina

For a complete list of videos, visit our video library