Author Question: Price decreases will ________ a household's choice set. (Read 195 times)

rlane42 · **on:** Apr 19, 2019

Question 1

Michael can buy either pizzas or submarine sandwiches. If the prices of pizzas and submarine sandwiches double and Michael's money income triples, we can conclude that Michael's budget constraint will

◦ shift in but remain parallel to the old one.
◦ shift out but remain parallel to the old one.
◦ swivel in so that the slope of the budget constraint is doubled.
◦ remain unchanged.

Question 2

Price decreases will ________ a household's choice set.

◦ increase
◦ decrease
◦ not change
◦ sometimes increase and other times decrease

lcapri7 · **Reply #1 on:** Apr 19, 2019

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