The Price of Gin Has Risen from $7 to $9

question 53

Multiple Choice

The price of gin has risen from $7 to $9 per bottle,the price of cocktail onions has fallen from $6 to $5 per jar,and Elizabeth's income has stayed fixed at $46 per week.If you put gin on the vertical axis and cocktail onions on the horizontal axis,then the budget constraint

• A)is steeper after the price changes.
• B)is flatter after the price changes.
• C)is the same after the price changes.
• D)shifts in parallel to the old budget constraint after the price changes.

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