Assume Bryce's budget constraint is represented by line B in the graph shown. Which of the following would cause Bryce's budget constraint to shift to A?
A. The price of movie tickets increased.
B. The price of books increased.
C. The price of movie tickets decreased.
D. The price of books decreased.
Answer: C
You might also like to view...
Refer to Table 9-17. Looking at the table above, real average hourly earnings between 2015 and 2016 changed by
A) 1.2%. B) 4.5%. C) 9.9%. D) 14.5%.
Cost-of-service-regulation sets prices by considering
A) the actual variable cost of providing the service to the customer. B) the actual total cost of providing the service to the customer. C) the actual average cost of providing the service to the customer. D) the actual marginal cost of providing the service to the customer.
The part of consumption that is determined by income is referred to as autonomous consumption
a. True b. False
P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
Given the information in this decision tree, if QRS-TV announces that it will air a reality show, it can expect to:
A. lose $5 million. B. earn $20 million. C. earn $5 million. D. earn $10 million.