Suppose That the Price of Good X Triples and the Price

question 27

Multiple Choice

Suppose that the price of good x triples and the price of good y doubles while income remains constant.On a graph where the budget line is drawn with x on the horizontal axis and y on the vertical axis, the new budget line

• A)is flatter than the old one and lies below it.
• B)is flatter than the old one and lies above it.
• C)crosses the old budget line.
• D)is steeper than the old one and lies below it.
• E)is steeper than the old one and lies above it.

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