P Question 1 Anand has $100 to spend on apples and/or avocados. Suppose you have drawn his budget line for apples and avocados with apples on the horizontal axis and avocados on the vertical axis. If Anand's income decreases by 10% but the prices of apples and avocados decrease by 5%, then the budget line shifts outward in a parallel fashion the budget line shifts inward in a parallel fashion O the budget line becomes steeper the budget line becomes flatter none of the above

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The theory of absolute advantage was given by Adam Smith in the year 1776.