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30 Oct 2020

When happens to the budget constraint when price of Y falls?

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Analyze the Factors affecting Consumption Choices
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Paramjeet Chawla
Paramjeet ChawlaLv8
30 Oct 2020

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Related questions

What happens to the budget constraint when price of X increases?

What is a budget constraint? How does a budget constraint explain consumer choices when used in conjunction with indifference curves? Explain what happens if a household loses half of their income, using a budget constraint and indifference curves in your discussion.

Make sure you give complete definitions and explanations for this set of questions. When dealing with the decrease in income, you will want to talk about the effects on the budget constraint and the consumption bundle of the consumer. Remember, there are only two goods in the model!

What is a budget constraint? How does a budget constraint explain consumer choices when used in conjunction with indifference curves? Explain what happens if a household loses half of their income, using a budget constraint and indifference curves in your discussion.

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