The consumer in the diagram above is initially at point A. His income increases…

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Wize University Microeconomics Textbook > Theory of Consumer Choice

Changes in Income

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The consumer in the diagram above is initially at point A. His income increases moving him to a new indifference curve at point B. Which of the following is true?

More Changes in Income Questions:

The consumer in the diagram above is initially at point B. His income decreases moving him to a new indifference curve at point A.
Which of the following is true?

Joanne consumes 5 burgers and purchases 2 pairs of shoes a month. Her income decreases by $300 and, as a result, she consumes 7 burgers and purchases 1 pairs of shoes. Which of the following is true?