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As you move up an indifference curve, the absolute value of the slope

nursemegan

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As you move up an indifference curve, the absolute value of the slope

Question 1.

Assume Sally is initially in equilibrium and that X and Y are normal goods for her. Then the price of X rises. For Sally to move to a new equilibrium point, her consumption of

▸ X must remain constant, but her consumption of Y must increase.

▸ X must decrease.

▸ X must increase.

▸ both X and Y must increase.

Question 2.

As you move up an indifference curve, the absolute value of the slope

▸ increases.

▸ decreases.

▸ remains constant.

▸ initially increases and then decreases.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 64 times

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peaceout3000

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More solutions for this book are available here

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