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wrote...
Posts: 79
2 weeks ago

Question 1.

Use the above figure. The consumer's choice changes from YB to YA. Which of the following statements about good Y is TRUE?

• price has decreased and the quantity demanded has fallen.

• price has increased and the quantity demanded has fallen.

• price has increased and the quantity demanded has risen.

• price has decreased and the quantity demanded has risen.

Question 2.

Use the above figure. The consumer's choice changes from YA to YB. Which of the following statements about good Y is TRUE?

• price has increased and the quantity demanded has risen.

• price has increased and the quantity demanded has fallen.

• price has decreased and the quantity demanded has risen.

• price has decreased and the quantity demanded has fallen.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
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Answer verified by a subject expert
wrote...
Posts: 77
2 weeks ago
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Answer 1

price has increased and the quantity demanded has fallen.

Answer 2

price has decreased and the quantity demanded has risen.
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