Question

how does the budget line on the indifference map moves if the consumer's income increases
A) A Parallel position to the origin
B) A Parallel position to the right
C) A Parallel position to the left
D) None of the above

Answer 1

Answer:

A parallel position to right

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Answer 2

When a consumer's income increases, his budget line shifts parallel and upward and when his income decreases the budget line shifts downward. As the income changes, a new equilibrium is established and the consumer moves from one equilibrium point to another.

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