A Leftward Shift of a Consumer's Budget Line to a Position

question 71

Multiple Choice

A leftward shift of a consumer's budget line to a position parallel with the original one could indicate that the

• A)price of one product has decreased in relation to the other.
• B)prices of both products have decreased in the same proportion.
• C)consumer's money income has increased and the prices of both products have also increased but proportionately less.
• D)consumer's money income has increased but the prices of both products have increased proportionately more.

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Definitions:

Transformation

A thorough or dramatic change in form or appearance, often referring to organizations undergoing significant shifts in strategy, operations, or culture.

Input Phases

Different stages or steps in which resources, information, or materials are provided or entered into a system for processing.

Productivity Ratio

A measure of the efficiency of production or output in relation to input, typically expressed as output per unit of input.

Chocolate Factory

A facility where cocoa beans are processed and turned into various chocolate products.