Chapter 21: 1. The following diagram shows two budget lines: A and B. 10 9 1 a. b. 2 3 4 5 K 6 8 9 10 X Which of the following could explain the change in the budget line from A to B? a decrease in the price of X an increase in the price of Y C. a decrease in the price of Y d. More than one of the above could explain this change.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Chapter 21:
1. The following diagram shows two budget lines: A and B.
10
8
1 2 3
a.
b.
4
5
K
6 7 8 9 10. X
Which of the following could explain the change in the budget line from A to B?
a decrease in the price of X
an increase in the price of Y
C.
a decrease in the price of Y
d. More than one of the above could explain this change.
Transcribed Image Text:Chapter 21: 1. The following diagram shows two budget lines: A and B. 10 8 1 2 3 a. b. 4 5 K 6 7 8 9 10. X Which of the following could explain the change in the budget line from A to B? a decrease in the price of X an increase in the price of Y C. a decrease in the price of Y d. More than one of the above could explain this change.
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