what is shift in budget line?
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A budget line shows the maximum consumption of a consumer at a given income level. It shifts parallelly when there is a change in income but rotates when the relative prices change. At any point in between these two extreme cases, a combination of Product A and B are consumed.
Answered by
3
Explanation:
A budget line shows the maximum consumption of a consumer at a given income level. It shifts parallelly when there is a change in income but rotates when the relative prices change. At any point in between these two extreme cases, a combination of Product A and B are consumed.
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