Question: 8:23 LTE < Notes The next two questions refer to the following graph: Quantity of good Y M L B U U2 Quantity of

8:23 LTE < Notes The next two questions refer to the following

8:23 LTE < Notes The next two questions refer to the following graph: Quantity of good Y M L B U U2 Quantity of good X N 7. What may have caused the consumer budget line to be will move from ML to MN? a. An increase in the price of X. b. A decrease in the price of X. c. An increase in the price of Y. d. A decrease in the price of Y. and. Cannot be determined without additional information. 8. At Point A, a. The marginal rate of substitution of X for Y is greater than it is at the point b. The "ratio" of the price of X to the price of Y is greater than it is at point B. c. The consumer's utility is less than it is at point B. d. Both a and c. E.All of the above.

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