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Sagot :
With prices down and wages fixed by contract, Milli's Frozen Pizzas decides to lay off workers would not be an expected response from a decrease in the price level.
What happens to the budget line if prices don't change but consumer income does?
Consumers will switch to the consumption of lower combinations of goods or services if their income declines. Since the cost of the commodities has not changed, the budget line will drop downward but the slope stays the same.
When one or both product prices fluctuate while nominal revenue (budget) stays the same, the budget line will alter. a change in the nominal income level with no change in the relative prices of the two goods.
To know more about budget line, refer:
https://brainly.com/question/14637545
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