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Use the Following to Answer Questions 38-40

question 31

Multiple Choice

Use the following to answer questions 38-40:
Figure 4.14 Use the following to answer questions 38-40: Figure 4.14   -(Figure 4.14)  Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change? A)  a decrease in income B)  a decrease in the price of good X C)  a decrease in income and an increase in the price of good X relative to that of good Y D)  an increase in the relative price of good X to that of good Y
-(Figure 4.14) Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change?


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