If the Price of One Good Increases While the Price

question 107

Multiple Choice

If the price of one good increases while the price of the other good and the consumer's income remain unchanged,what will happen to the budget line?

• A) The budget line rotates inward from the intercept on the axis of the good that did not change in price.
• B) The budget line rotates outward from the intercept on the axis of the good that did not change in price.
• C) The budget line shifts inward without a change in slope.
• D) The budget line shifts outward without a change in slope.

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Definitions:

Successor

A person or entity that follows and takes over a position, role, or office from another, often in a planned and designated manner.

Groomed

Prepared or trained for a specific purpose, often with care and attention to detail.

Ready

Prepared or in a suitable state for an activity, action, or situation.

Developmental Assignments

Tasks or roles assigned to employees with the purpose of enhancing their knowledge, skills, and experiences for career advancement.