The Following Diagram Shows Two Budget Lines: a and B

question 224

Multiple Choice

The following diagram shows two budget lines: A and B.
Which of the following could explain the change in the budget line from A to B?

• A)A simultaneous decrease in the price of x and the price of y.
• B)An increase in income.
• C)An increase in income and a decrease in the price of y.
• D)Both a and b

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Definitions:

Conscious Control

The deliberate use of one's awareness to regulate and direct one's thoughts, actions, or emotions.

High-Level

Refers to abstract, complex or strategic thinking or reasoning that involves comprehensive analysis or synthesis of information.

Low-Level

Pertaining to basic or rudimentary aspects of a process or operation, often without involving complexities.

Autonomy

The quality or state of being self-governing; the ability to make one's own choices and decisions independently.