Economy, asked by vijayrithvik034, 9 months ago

what will be impact on budget line if there is a rise in in the price of commodity X and price of commodity Y remains constant.

Answers

Answered by taronavijit

Explanation:

What will be impact on budget line if there is a rise in in the price of commodity X and price of commodity Y remains constant. ???

Answer

Thus, with the rise in price of X the budget line will shift to the left to the new position BL”. Figure 8.17 shows the changes in the budget line when price of good Y falls or rises, with the price of X and income remaining the same.

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