Question 20 When the budget line shifts from blue to red: Good X B (75X, ?Y) C(?X, ?Y A (55X, ?Y) Budet Line incomes00, Pss, Ps1s Bulet Line income soo, Ps10, PSs Good Y The slope of the budget line increases. The budget line gets steeper. The price of Good X rises. The price of Good Y rises. Monetary income increases. O The relative price of Good X increases. The relative price of Good Y increases.

Question 20 When the budget line shifts from blue to red: Good X B (75X, ?Y) C(?X, ?Y A (55X, ?Y) Budet Line incomes00, Pss, Ps1s Bulet Line income soo, Ps10, PSs Good Y The slope of the budget line increases. The budget line gets steeper. The price of Good X rises. The price of Good Y rises. Monetary income increases. O The relative price of Good X increases. The relative price of Good Y increases.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.2P

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