In the above figure, Reggie's budget line rotates outward from BL1 to BL2. He initially consumes at point A. If his new consumption bundle is at point C, this implies that his demand curve for kiwi fruit
A) has shifted.
B) is a vertical line.
C) slopes downward.
D) is a horizontal line.
C
You might also like to view...
Under a fixed exchange rate system, if the inflation rate of the United States exceeds the inflation rate of other nations, the
A) dollar will depreciate. B) dollar will appreciate. C) United States will develop a trade surplus. D) United States will develop a trade deficit.
The consumption function expresses the:
a. relation between consumption and dissaving. b. relation between consumption and disposable personal income. c. purposes of consumption. d. relation between consumption and dissaving.
The best solution to the problem of welfare loss from monopoly is public ownership
a. True b. False Indicate whether the statement is true or false
A market dominated by a single seller:
a. start-up costs b. merger c. patent d. monopoly e. deregulation