Question #71947
When the price of one good changes, and all others stay the same:
A.
the change in relative prices is reflected in a change in the slope of the budget constraint.
B.
the change in relative prices can be thought of as a change in the opportunity costs of each good.
C.
the change in relative prices is reflected in a change in the marginal utility per dollar spent on each good.
D.
All of these statements are true.
A.
the change in relative prices is reflected in a change in the slope of the budget constraint.
B.
the change in relative prices can be thought of as a change in the opportunity costs of each good.
C.
the change in relative prices is reflected in a change in the marginal utility per dollar spent on each good.
D.
All of these statements are true.
Expert's answer
Answer is «D» (All of these statements are true).
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