Which of the following statements is correct? a. BL is a downward sloping straight line b. Bundles which cost less than consumer’s money income lies outside the BL c. If there is an increase in consumer’s income and no change in prices of goods, then the BL will shift to the left. d. A decrease in the price of good measured along X-axis makes the BL steeper.
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b. Bundles which cost less than consumer’s money income lies outside the BL c. If there is an increase in consumer’s income and no change in prices of goods, then the BL will shift to the left. d. A decrease in the price of good measured along X-axis makes the BL steeper.
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