apartment rents, increases in population, and consumer expectations of higher ho

Question

apartment rents, increases in population, and consumer expectations of higher house prices in the future lower wages for carpenters, lower wood prices, decreases in consumer incomes, lower apartment rents, decreases in population, and consumer expectations of lower house prices in the future c. lower wages for carpenters, higher wood prices, decreases in consumer incomes, higher apartment prices in the future d. rents, decreases in population, and consumer expectations of higher house Scenario 12-2 Marko has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at ski resort where he earns S10 per hour. During the summer, Marko drives a tour bus around the ski resort, earning $12 per hour. 23. Refer to Scenario 12-2. When Marko switches from his summer job to his winter job, what happens? a. b. c. He will divide his time equally between work and leisure His work schedule will remain unchanged He will work more hours because the opportunity cost of leisure increases. urs because the opportunity cost of leisure decreases. What does it mean when a budget constraint shifts outward, in a paralle b. The outward shift could only have been ca increase in th 24. l fashion? a. The consumer is indifferent between goods X and Y goods. The outward shift could only have bee The consumer c. can reach a higher indifference curve. n caused by an increase in income. d.

Explanation / Answer

Budget constraint shifting outward would imply that now the consumer can reach on higher indifference curve.

OPTION D

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