Answer to Question #71947 in Microeconomics for Daniel

Question

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.

Answer 1

Answer is «D» (All of these statements are true).