A decrease in the prices of two products that a consumer buys out of a constant budget would cause the consumer's:
A. Indifference curves to shift outward from the origin
B. Indifference curves to shift inward to the origin
C. Budget line to shift outward from the origin
D. Budget line to shift inward to the origin
C. Budget line to shift outward from the origin
You might also like to view...
Refer to Scenario 10.3. The marginal cost of red herrings is given as: MC = 0.6Q. What is the profit-maximizing level of output?
A) 0 B) 25 C) 50 D) 60 E) 125
A decrease in the price of a good would
a. shift the supply curve for the good to the left. b. give producers an incentive to produce more to keep profits from falling. c. increase the quantity demanded of the good. d. increase the supply of the good.
It is better to protect an infant industry with _______ than ________.
a. a voluntary export restraint; a quota b. a voluntary export restraint; a tariff c. a tariff; a quota d. a quota; a tariff
Jai Li just lost her job, and she hasn't yet started looking for a new one. The Bureau of Labor Statistics counts Jai Li as
A) unemployed and in the labor force B) unemployed, but not in the labor force C) in the labor force, but not unemployed D) neither in the labor force nor unemployed