Answer
The decrease in the price of Y increases the quantity of Y so the
intercept of the budget line on the Y-axis move outward
In the graph C it moves outward from bc1 to bc2
graph a represents a decrease in the price of X
graph b represents an increase in the price of both in the same
proportion or decrease in income
in the graph, d represents an increase in the price of Y
in the graph, e represents an increase in the price of X
option 3
graph c
Question 22 1 pts bez - Vocz BCI Which of the graphs in the figure could...
Refer to Figure 21-3. Which of the graphs in the figure reflects a decrease in the price of good Y only! a. Graph a b. Graph b cGraphc d. Graph d 16. An example of an opportunity cost that is also an implicit cost is a Alease payment. b. The cost of raw materials c. The value of the business owner's time. d. All of the above are correct. 17. Economists normally assume that the goal of a firm is...
Which of the graphs in the figure illustrates Hooke's Law? Graph a Graph b Graph c Graph d
Which of the graphs in the figure illustrates Hooke's Law? Graph a Graph b Graph c Graph d
Question 13 1 pts The following graphs shows eight different budget constraints (from A to H) for a consumer who consumes Fish and/or Chips. Which of the following illustrates how the budget constraint will change if the price of Fish were to decrease? Fish Fish D B c A 0 Chips Chips Fish Fish G H F 0 Chips Chips Cto D D to C Fto E E to F Question 20 1 pts Refer to the graph below where...
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