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DoveNinja763537 DoveNinja763537
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A year ago

The diagram below shows a set of budget lines facing a household.

Short description: A graph plots the quantity of food per month against the quantity of housing per month. Long description: The horizontal axis representing the quantity of food per month lists the following values from left to right: b, c, and f. The vertical axis representing the quantity of housing per month lists the following values from bottom to top: d, a, and e. The graph shows four decreasing lines. The first line begins at d on the vertical axis and ends at b on the horizontal axis. The second line begins at a on the vertical axis and ends at b on the horizontal axis. The third line begins at a on the vertical axis and ends at c on the horizontal axis. The fourth line begins at e on the vertical axis and ends at f on the horizontal axis.

FIGURE 6-8
Refer to Figure 6-8. The movement of the budget line from ab to ef could be caused by



▸ an equal percentage increase in the price of both food and housing.

▸ a decrease in real income.

▸ an increase in money income.

▸ an increase in the price of either food or housing.

▸ a decrease in the price of either food or housing.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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angelofavariceangelofavarice
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