If a person's income falls, his or her budget constraint moves
A) inward toward the origin, and its slope changes.
B) outward away from the origin, and its slope remains the same.
C) inward toward the origin, and its slope remains the same.
D) outward away from the origin, and its slope changes.
E) none of the above
Correct Answer:
Verified
Q137: Exhibit 20-5 Q138: If the marginal utility of X is Q139: Exhibit 20-4 Q140: Suppose that in the year 2050, one Q141: The _ one's income, the _ one's Q143: Exhibit 20-7 Q144: An indifference curve shows Q145: If income rises, the budget constraint Q146: If Smith will give up three units Q147: Exhibit 20-7 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)the bundles of two
A)moves inward
