If both prices decreases by 50%,
A) budget constraint will be unchanged.
B) slope of the budget constraint will increase.
C) slope of the budget constraint will decrease.
D) budget constraint will shift outward in a parallel fashion.
D
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In the above figure, a single-price monopolist charges a price of ________ and the equilibrium competitive price is ________
A) $10; $20 B) $20; $30 C) $30; $20 D) $30; $10
Developing countries may have excess savings in one region and inadequate savings in another due to
a. interest rate ceilings b. fragmented markets c. inflation d. financial deepening e. all of the above
One reason that explains why the short-run aggregate supply curve is upward sloping is:
A. the lag involved with public policy making. B. the changing profit levels experienced by firms. C. sticky wages. D. cartels keeping prices artificially high.
Any restriction of international trade that is accomplished by a quota can also be accomplished by a tariff
a. True b. False Indicate whether the statement is true or false