A(n) ___________ in income will shift the budget line to the left.

a. increase
b. decrease
c. no change


b. decrease

Economics

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The pricing rule MR=MC hold for

a. All firms b. Single product firms c. Multiple product firms d. None of the above

Economics

If the income elasticity of demand for a good is negative, the good is an inferior good

a. True b. False Indicate whether the statement is true or false

Economics

As the interest rate rises, debt service:

A. does not change and neither does the debt. B. decreases. C. does not change, but debt increases. D. increases.

Economics

In the above table, the total utility of three slices of pizza is

A. 80. B. 50. C. 20. D. 70.

Economics