A. fall in consumer income
B. change in consumer taste
C. fall in the commodity relative price
D. rise in the consumer income
Correct Answer:
Option D – rise in the consumer income
Explanation
When there is an increase in income, a consumer can buy more of both goods and this shows an outward i.e. rightward shift in the budget line.
300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…
200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…