The above figure gives your budget line between CDs and magazines. If the price of a magazine falls, then the budget line
A) shifts outward and the slope does not change.
B) rotates inward with no change in the horizontal intercept.
C) rotates inward with no change in the vertical intercept.
D) rotates outward with no change in the vertical axis.
D
Economics
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When economists study the interactions of different people, the focus of their studies is on
A) inequality of wealth. B) many different individual plans that must be coordinated. C) not enough jobs for everyone who wants one. D) people's excessive attachment to their own interests. E) too many dollars chasing too few goods.
Economics
Would it ever make sense for a firm to charge a price at or below the cost of the product?
What will be an ideal response?
Economics