Figure 21-3 in Each Case, the Budget Constraint Moves from BC-1 to BC-1

question 309

Multiple Choice

Figure 21-3
In each case, the budget constraint moves from BC-1 to BC-2.
-Refer to Figure 21-3. Which of the graphs in the figure could reflect a simultaneous decrease in the prices of both goods?

• A) (i) only
• B) (iv) only
• C) (ii) or (iii) only
• D) None of the above is correct.

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Definitions:

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