Suppose Alex's consumption bundle is made up of 2 goods; chocolates and bottles of energy drinks. If the price of an chocolates increases, then Alex's budget line would 1) not change. 2) shift towards the origin on both the chocolates and bottles of energy drinks аxes. 3) shift towards the origin on the chocolates axis only. 4) shift away from the origin on the bottles of energy drinks axis only.
Suppose Alex's consumption bundle is made up of 2 goods; chocolates and bottles of energy drinks. If the price of an chocolates increases, then Alex's budget line would 1) not change. 2) shift towards the origin on both the chocolates and bottles of energy drinks аxes. 3) shift towards the origin on the chocolates axis only. 4) shift away from the origin on the bottles of energy drinks axis only.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose Alex's consumption bundle is made up of 2 goods; chocolates and bottles of
energy drinks. If the price of an chocolates increases, then Alex's budget line would
1) not change.
2)
shift towards the origin on both the chocolates and bottles of energy drinks
аxes.
O 3) shift towards the origin on the chocolates axis only.
4) shift away from the origin on the bottles of energy drinks axis only.
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