Suppose x-axis represents quantity of chocolate and the y-axis represents quantity of potato chips. If the price of chocolate increases, it would1) leave the budget line unchanged. 2) cause the budget line to become flatter. 3) cause a parallel shift in the buget line. 4) cause the budget line to become steeper.

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13-12-2022
Business

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Suppose x-axis represents quantity of chocolate and the y-axis represents quantity of potato chips. If the price of chocolate increases, it would1) leave the budget line unchanged. 2) cause the budget line to become flatter. 3) cause a parallel shift in the buget line. 4) cause the budget line to become steeper.

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ogorwyne ogorwyne · Answer 1 · 2022-12-15T16:52:15+01:00

Suppose x-axis represents quantity of chocolate and the y-axis represents quantity of potato chips. If the price of chocolate increases, it would cause the budget line to become steeper. Option 4

What is the budget line?

A budget constraint in economics refers to all the combinations of goods and services that a consumer may buy at the current market price within the limits of his or her available income. The notions of a preference map and a budget restriction are used by consumer theory to investigate the criteria for customer decisions.

The budget line is a graphical representation of every combination of the two commodities that may be purchased using the given income and cost, with the price of each combination being equal to the customer's monetary earnings.

Pricing line, price opportunity line, and consumption possibility curve are other names for the budget line.

Read more on the budget line here:https://brainly.com/question/14524034

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