-The Figure Above Shows Sam's Budget Line

question 393

Multiple Choice

-The figure above shows Sam's budget line. Which of the following would result in Sam's budget line rotating inward and not changing its vertical intercept?

• A) a decline in his preference for coffee
• B) a fall in the price of a gallon of gasoline
• C) a decrease in Sam's income
• D) an increase in the price of a pound of coffee

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Definitions:

Modified

This term refers to something that has been changed or altered from its original form.

Snowmobile

A motorized vehicle designed for travel over snow, typically operated on open terrain or established trails.

Warranty Of Merchantability

An implied guarantee that a product sold by a merchant fits the ordinary purposes for which such goods are used.

Merchant-Seller

A business entity or individual that sells goods, particularly those involved in wholesale or specialized trade.