Asked by
karara alkhafagi
on Nov 04, 2024
Verified
Refer to Figure 6.6. Bill's budget constraint was originally CD. If his new budget constraint is EF, then his income
A) increased.
B) decreased.
C) did not change but the price of black beans decreased.
D) did not change but the price of bell peppers decreased.
Black Beans
A type of legume that is widely consumed around the world, known for its nutritional value and versatility in various cuisines.
Bell Peppers
Edible fruits from the Capsicum genus, commonly used in cooking for their sweet and mild flavor.
- Master the idea of financial constraints and observe how changes in income and cost levels affect the preferences of consumers.
- Comprehend how changes in market conditions, like price shifts or income changes, affect the restrictions and options available to household budgets.
Verified Answer
AH
Learning Objectives
- Master the idea of financial constraints and observe how changes in income and cost levels affect the preferences of consumers.
- Comprehend how changes in market conditions, like price shifts or income changes, affect the restrictions and options available to household budgets.