The Quantity of Good Y Is Measured Along the Vertical

question 243

Multiple Choice

The quantity of good Y is measured along the vertical axis, and the quantity of good X is measured along the horizontal axis. If the prices of both good Y and good X rise, the budget line

• A) shifts outward to the right and the vertical and horizontal intercepts will both rise.
• B) shifts inward to the left and both intercepts will decline.
• C) rotates, rising along the vertical axis but falling along the horizontal axis.
• D) none of the above.

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Definitions:

Hamburgers

A popular food item consisting of cooked ground meat, usually beef, placed inside a sliced bun, often served with various condiments and toppings.

Cattle Ranchers

Individuals or businesses involved in raising cattle primarily for meat production, operating within the agricultural sector.

Supply Curve

Represents the relationship between the price of a good and the quantity of the good that producers are willing to supply, usually depicted as upward sloping on a graph.

Hamburgers

A popular food item consisting of a cooked patty of ground meat, typically beef, placed inside a sliced bread bun.