If the Price of X Falls,the Budget Constraint

question 4

Multiple Choice

If the price of x falls,the budget constraint:

• A)shifts outward in a parallel fashion.
• B)shifts inward in a parallel fashion.
• C)rotates outward about the x-intercept.
• D)rotates outward about the y-intercept.

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Definitions:

Random sample

A selection made in such a manner that every subset of the population has an equal probability of being picked.

Margin of error

An expression of the amount of random sampling error in a survey's results.

Population variance

A measure of the dispersion of all data points within a population, squared from the mean of the population.

Confidence interval

A gamut of numbers, produced from sample statistics, believed to enfold the covert value of a population parameter.