Suppose the price of beans is increased. Which of the following statements is true? Select one: O a. Vanessa's budget line will pivot outwards along the axis representing broccoli O b. Vanessa's...

Extracted text: Suppose the price of beans is increased. Which of the following statements is true? Select one: O a. Vanessa's budget line will pivot outwards along the axis representing broccoli O b. Vanessa's budget line shift inwards Oc. Vanessa's budget line will pivot inwards along the axis representing beans O d. Vanessa's indifference curve will shift inwards


Extracted text: Which of the following examples does not illustrate the principle represented by the adage, "There is no such thing as a free lunch"? O a. Joe needs to pay his rent and his electric bill. O b. Lisa can spend her money on a new sweater or a pair of jeans. Oc. Pete must choose between buying a new flat screen television and buying his textbooks for this semester. O d. Kevin must decide between studying for his economics exam and working at his part- time job.