Given the graph below, if the consumer’s income decreases, a. The budget line will swing outward…

Given the graph below, if the consumer’s income decreases,

a. The budget line will swing outward (slope will become
shallower).

b. The budget line will swing inward (slope will become
steeper).

c. The budget line will shift out parallel to the old budget
line (the slope will be unchanged).

d. The budget line will shift inward parallel to the old budget
line (the slope will be unchanged).

e. The indifference curves will change shape.

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