Refer to the graph below for Questions 68 to 70 12 Budgetline 10. 68. In the gra

Question

Refer to the graph below for Questions 68 to 70 12 Budgetline 10. 68. In the graph above, the new (black) budget line illustrates the choices for consumer with an income equal to.. a $4. c. $12 d $16 e an unknown quantity 69. In the graph above, the shift in the budget line could represent.. a. a20% fall in mcome. b, a50% rise in only the price ofhot dogs. C. a 50% rise in only the price of hamburgers. d a 25% rise n the prices of both hot dogs and hamburgers. e. both a and d 70. In the graph above, if the price of hamburgers is $3, then the price of hot dogs is.. b. $1.50. c. $2. d $3. e. $6

Explanation / Answer

68. The correct answer is E.

69. The correct answer is E.

70. The correct answer is B.

71. The correct answer is C.

72. The correct answer is C.

73. The correct answer is C.

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