A fall in the price of a good will rotate the budget constraint _________and make it possible for a consumer to reach higher indifference curves. As a result, the consumer will_________ the quantity of the good demanded. A. inward; increase B. outward; decrease C. inward; decrease D. outward; increase.
A fall in the price of a good will rotate the budget constraint _________and make it possible for a consumer to reach higher indifference curves. As a result, the consumer will_________ the quantity of the good demanded. A. inward; increase B. outward; decrease C. inward; decrease D. outward; increase.
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 10QP
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A fall in the
A. inward; increase
B. outward; decrease
C. inward; decrease
D. outward; increase.
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