Suppose Alex's consumption bundle is made up of 2 goods; chocolates and bottles of energy drinks. If the price of an chocolates increases, then Alex's budget line would 1) not change. 2) shift towards the origin on both the chocolates and bottles of energy drinks аxes. 3) shift towards the origin on the chocolates axis only. 4) shift away from the origin on the bottles of energy drinks axis only.

Suppose Alex's consumption bundle is made up of 2 goods; chocolates and bottles of energy drinks. If the price of an chocolates increases, then Alex's budget line would 1) not change. 2) shift towards the origin on both the chocolates and bottles of energy drinks аxes. 3) shift towards the origin on the chocolates axis only. 4) shift away from the origin on the bottles of energy drinks axis only.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 2.5P

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