of the following choices, which could have shifted Edison's budget constraint from BC₁ to BC₂? Check all that apply. His income increased while the prices of theater and concert tickets stayed the same. The prices of both theater and concert tickets decreased while his income stayed the same. The price of concert tickets increased while his income and the price of theater tickets stayed the same. His income decreased while the prices of theater and concert tickets stayed the same. inferior normal Based on Edison's consumption of plays and concerts after his budget constraint shifted, plays are and concerts are goods. goods

of the following choices, which could have shifted Edison's budget constraint from BC₁ to BC₂? Check all that apply. His income increased while the prices of theater and concert tickets stayed the same. The prices of both theater and concert tickets decreased while his income stayed the same. The price of concert tickets increased while his income and the price of theater tickets stayed the same. His income decreased while the prices of theater and concert tickets stayed the same. inferior normal Based on Edison's consumption of plays and concerts after his budget constraint shifted, plays are and concerts are goods. goods

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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