Please give me answer with detail explanations Refer to the graph below for next two questions:Quantity ofgood Y18-16-14-1210-8-64-2-02 46 8 10 12 14 16 18 20 Quantity of good XFor Budget constraint 1, the price of good X and the price of good Y could equal$80 and $140$100 and $120$140 and $80$120 and $100Quantity ofgood Y1816-14-12-10-8-Budget constraint 26-42Budget constraint 1Budget constraint 2Budget constraint 10 2 4 6 8 10 12 14 16 18 20 Quantity of good XSuppose the budget constraint shifted from Budget constraint 2 to Budget constraint 1. What could havecaused this change?A decrease in the price of good Xrespectively.A decrease in income and decrease in the relative price of good X to those ofgood YA decrease in incomeAn increase in the relative price of good X to that of good Y

Using the slope of the budget constraint can help determine the ratio of the prices of the two…

Refer to the graph below for next two questions: Quantity of good Y 18- 16- 14- 12- 10- 8- he 6- 4- 2- $80 and $140 0 2 4 6 8 10 12 14 16 18 20 Quantity of good X For Budget constraint 1, the price of good X and the price of good Y could equal $100 and $120 $140 and $80 $120 and $100 Quantity of good Y 18- 16- 14- 12- 10- Budget constraint 2 8- 20 6- 4- 2- Budget constraint 1 Budget constraint 2 Budget constraint 1 2 4 6 8 10 12 14 16 18 20 Quantity of good X Suppose the budget constraint shifted from Budget constraint 2 to Budget constraint 1. What could have caused this change? A decrease in the price of good X respectively. A decrease in income and decrease in the relative price of good X to those of good Y A decrease in income