8. Normal and inferior goods Antonio likes going to the ballpark to watch baseball, and he also is fond of going to the theater to listen to the symphony orchestra. The following diagram shows two of Antonio's indifference curves for going to ballgames and symphonies. With Antonio's initial budget constraint (BC1), he chose to go to four symphonies and six baseball games per month (point X). Then his budget constraint shifted to BC2, and he chose to go to five symphonies and three ballgames per month (point Y). BALLGAMES 3 8 10 0 4 5 SYMPHONIES BC 8 BC 10 ? Of the following choices, which could have shifted Antonio's budget constraint from BC₁ to BC2? Check all that apply. His income increased while the prices of baseball and symphony tickets stayed the same. The prices of both baseball and symphony tickets increased while his income stayed the same. His income decreased while the prices of baseball and symphony tickets stayed the same. normal The price of symphony tickets increased while his income and the price of baseball tickets stayed the sa inferior Based on Antonio's consumption of ballgames and symphonies after his budget constraint shifted, ballgames are goods and symphonies are goods.
8. Normal and inferior goods Antonio likes going to the ballpark to watch baseball, and he also is fond of going to the theater to listen to the symphony orchestra. The following diagram shows two of Antonio's indifference curves for going to ballgames and symphonies. With Antonio's initial budget constraint (BC1), he chose to go to four symphonies and six baseball games per month (point X). Then his budget constraint shifted to BC2, and he chose to go to five symphonies and three ballgames per month (point Y). BALLGAMES 3 8 10 0 4 5 SYMPHONIES BC 8 BC 10 ? Of the following choices, which could have shifted Antonio's budget constraint from BC₁ to BC2? Check all that apply. His income increased while the prices of baseball and symphony tickets stayed the same. The prices of both baseball and symphony tickets increased while his income stayed the same. His income decreased while the prices of baseball and symphony tickets stayed the same. normal The price of symphony tickets increased while his income and the price of baseball tickets stayed the sa inferior Based on Antonio's consumption of ballgames and symphonies after his budget constraint shifted, ballgames are goods and symphonies are goods.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:8. Normal and inferior goods
Antonio likes going to the ballpark to watch baseball, and he also is fond of going to the theater to listen to the symphony orchestra. The following
diagram shows two of Antonio's indifference curves for going to ballgames and symphonies. With Antonio's initial budget constraint (BC1), he chose to
go to four symphonies and six baseball games per month (point X). Then his budget constraint shifted to BC2, and he chose to go to five symphonies
and three ballgames per month (point Y).
BALLGAMES
3
8
10
0
4 5
SYMPHONIES
BC
8
BC
10
?
Of the following choices, which could have shifted Antonio's budget constraint from BC₁ to BC2? Check all that apply.
His income increased while the prices of baseball and symphony tickets stayed the same.
The prices of both baseball and symphony tickets increased while his income stayed the same.
His income decreased while the prices of baseball and symphony tickets stayed the same.
normal
The price of symphony tickets increased while his income and the price of baseball tickets stayed the sa
inferior
Based on Antonio's consumption of ballgames and symphonies after his budget constraint shifted, ballgames are
goods and symphonies
are
goods.
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