Consider a graph with paper on the x-axis and pencils on the y-axis. If the price of paper decreases, then (select all that apply): Check All That Apply the budget constraint will become steeper (the absolute value of the slope will increase).the budget constraint will become steeper (the absolute value of the slope will increase). the budget constraint will become flatter (the absolute value of the slope will decrease). the budget constraint will become flatter (the absolute value of the slope will decrease). the slope of the budget constraint will not change.the slope of the budget constraint will not change. the x-intercept will increase.the x-intercept will increase. the x-intercept will decrease.the x-intercept will decrease. the x-intercept will not change.the x-intercept will not change. the y-intercept will increase.the y-intercept will increase. the y-intercept will decrease.the y-intercept will decrease. the y-intercept will not change.
Consider a graph with paper on the x-axis and pencils on the y-axis. If the price of paper decreases, then (select all that apply): Check All That Apply the budget constraint will become steeper (the absolute value of the slope will increase).the budget constraint will become steeper (the absolute value of the slope will increase). the budget constraint will become flatter (the absolute value of the slope will decrease). the budget constraint will become flatter (the absolute value of the slope will decrease). the slope of the budget constraint will not change.the slope of the budget constraint will not change. the x-intercept will increase.the x-intercept will increase. the x-intercept will decrease.the x-intercept will decrease. the x-intercept will not change.the x-intercept will not change. the y-intercept will increase.the y-intercept will increase. the y-intercept will decrease.the y-intercept will decrease. the y-intercept will not change.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 8SQ
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Question
Consider a graph with paper on the x-axis and pencils on the y-axis. If the price of paper decreases, then (select all that apply):
Check All That Apply
-
the budget constraint will become steeper (the absolute value of the slope will increase).the budget constraint will become steeper (the absolute value of the slope will increase).
-
the budget constraint will become flatter (the absolute value of the slope will decrease). the budget constraint will become flatter (the absolute value of the slope will decrease).
-
the slope of the budget constraint will not change.the slope of the budget constraint will not change.
-
the x-intercept will increase.the x-intercept will increase.
-
the x-intercept will decrease.the x-intercept will decrease.
-
the x-intercept will not change.the x-intercept will not change.
-
the y-intercept will increase.the y-intercept will increase.
-
the y-intercept will decrease.the y-intercept will decrease.
-
the y-intercept will not change.
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