If the Consumer's Income Increases While the Prices of Both

question 120

Multiple Choice

If the consumer's income increases while the prices of both goods remain unchanged,what will happen to the budget line?

• A) The budget line rotates inward from the intercept on the horizontal axis.
• B) The budget line rotates outward from the intercept on the vertical axis.
• 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:

Determinant Products

Items that serve as a deciding factor for consumers when choosing between similar products.

Product Specifications

Detailed descriptions and criteria of a product's features, dimensions, materials, and performance standards.

Request For Proposals

A document issued by a business or organization inviting suppliers to submit a proposal on a specific product or service.

Eat Right Group

An initiative or organization focused on promoting healthy eating habits and nutritional awareness among the public.