In the figure above, Sam originally selects his consumption bundle at point A with 3 pounds of olives and 4 pounds of pickles a year
Then the price of pickles rises and the price of olives falls so that his budget line rotates but it still goes through point A. Sam's consumption of olives A) definitely will rise.
B) definitely will fall.
C) definitely will stay the same.
D) could rise, fall, or stay the same.
A
Economics
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"Lady Gaga concert sells out. 60,000 tickets sold." What can an economist conclude from the above headline?
A) There is a surplus of tickets. B) The market clears. C) The quantity supplied is 60,000. D) The quantity demanded is at least 60,000. E) Both C and D above.
Economics
Refer to the scenario above. What will the balance in Tom's account be after five years if he deposits $3,000 in the bank?
A) $3,222.64 B) $3,400 C) $4,014.68 D) $4,111.78
Economics