Suppose the price of a candy bar is $1.25, the price of a bag of chips is $1.75, and the budget is $17.50. Candy Bars are on the x-axis and bags of chips are on the y-axis. If the price of a candy bar increases to $1.99, what happens to the Budget Line? Group of answer choices a)The budget lines rotates outward b)The budget lines rotates inward
Suppose the price of a candy bar is $1.25, the price of a bag of chips is $1.75, and the budget is $17.50. Candy Bars are on the x-axis and bags of chips are on the y-axis. If the price of a candy bar increases to $1.99, what happens to the Budget Line? Group of answer choices a)The budget lines rotates outward b)The budget lines rotates inward
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![Suppose the price of a candy bar is $1.25, the
price of a bag of chips is $1.75, and the
budget is $17.50. Candy Bars are on the x-axis
and bags of chips are on the y-axis. If the
price of a candy bar increases to $1.99, what
happens to the Budget Line?
Group of answer choices
a)The budget lines rotates outward
b)The budget lines rotates inward
c)The budget line undergoes a parallel shift
outward
d)The budget lines undergoes a parallel shift
inward](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f7126c1-ca8d-47d6-8d75-8af3eb207d68%2F4b61e644-d29e-4627-ae79-99d42945ed9b%2Fl8wezqo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose the price of a candy bar is $1.25, the
price of a bag of chips is $1.75, and the
budget is $17.50. Candy Bars are on the x-axis
and bags of chips are on the y-axis. If the
price of a candy bar increases to $1.99, what
happens to the Budget Line?
Group of answer choices
a)The budget lines rotates outward
b)The budget lines rotates inward
c)The budget line undergoes a parallel shift
outward
d)The budget lines undergoes a parallel shift
inward
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