For a rational consumer who has to choose between two goods in the context of budget constraints, the price change of one of the goods, ceteris paribus, will determine: Question 16Answer a. a parallel shift of budget line to the right. b. no change in the budget line c. a pivot of the budget line d. a parallel shift of the budget line to the left
For a rational consumer who has to choose between two goods in the context of budget constraints, the price change of one of the goods, ceteris paribus, will determine: Question 16Answer a. a parallel shift of budget line to the right. b. no change in the budget line c. a pivot of the budget line d. a parallel shift of the budget line to the left
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section21.1: The Budget Constraint: What The Consumer Can Afford
Problem 1QQ
Related questions
Question
For a rational consumer who has to choose between two goods in the context of budget constraints, the
Question 16Answer
a.
a parallel shift of budget line to the right.
b.
no change in the budget line
c.
a pivot of the budget line
d.
a parallel shift of the budget line to the left
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