Refer to the Information Provided in Figure 6

question 193

Multiple Choice

Refer to the information provided in Figure 6.4 below to answer the question(s) that follow. Figure 6.4
-Refer to Figure 6.4. Bill's budget constraint is AC. His budget constraint would shift to AB if the price of

• A) black beans increased.
• B) black beans decreased.
• C) bell peppers increased.
• D) bell peppers decreased.

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Definitions:

Andrew Carnegie

An industrialist and philanthropist who led the enormous expansion of the American steel industry in the late 19th century and is often considered one of the richest people in history.

Edward Bellamy

An American author and socialist, most famous for his utopian novel, "Looking Backward: 2000-1887."

Standard Oil

An American oil producing, refining, and transporting company established by John D. Rockefeller that became a symbol of the monopolistic practices and economic power of the Gilded Age.

John D. Rockefeller

An American industrialist and philanthropist who played a pivotal role in the establishment and growth of the oil industry.