Refer to Goods X and Y. How would a budget line be affected if income and both prices all simultaneously doubled?

Assume that good X is on the horizontal axis and good Y is on the vertical axis in the consumer-choice diagram. PX denotes the price of good X, PY is the price of good Y, and I is the consumer's income. Unless otherwise stated, the consumer's preferences are assumed to satisfy the standard assumptions.

a. It would shift out so that all quantities are doubled.
b. It would shift in so that all quantities are halved.
c. It would not be affected.
d. The slope would be doubled.

c. It would not be affected.

Economics

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Discuss the practical difficulties associated with practicing perfect price discrimination

What will be an ideal response?

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The American Federation of Labor was formed in 1886 as a dissident group from the

A) Knights of Labor. B) Knights of Pythias. C) Masonic Lodge. D) Knights of Columbus.

Economics