Author Question: Refer to Scenario 5.4. What is the pay-off of outcome C? A) -150 B) 0 C) 25 D) 100 E) ... (Read 48 times)

PhilipSeeMore · **on:** Jul 1, 2018

Refer to Scenario 5.4. What is the pay-off of outcome C?

A) -150
B) 0
C) 25
D) 100
E) 150

Question 2

An increase in income, holding prices constant, can be represented as:

A) a change in the slope of the budget line.
B) a parallel outward shift in the budget line.
C) an outward shift in the budget line with its slope becoming flatter.
D) a parallel inward shift in the budget line.