If income decreases and prices are unchanged, the consumer's budget constraint
a. remains the same.
b. shifts outward.
c. shifts inward.
d. rotates outward along the horizontal axis.
c
Economics
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One main difference in the rulings on the 1945 Alcoa case and the 1956 Dupont cellophane case is that the Alcoa case:
A. Focused on structure whereas the Dupont case focused on behavior B. Focused on behavior whereas the Dupont case focused on structure C. Defined the market broadly whereas the Dupont case defined the market narrowly D. Defined the market narrowly whereas the Dupont case defined the market broadly
Economics
Use the above figure. The optimal position for the consumer is at
A. N. B. J or L. C. K. D. M.
Economics