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An indifference curve plotted for two different goods, one on each axis,

jwalker824

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An indifference curve plotted for two different goods, one on each axis,

An indifference curve plotted for two different goods, one on each axis,

▸ shows the combinations of the two goods that will just use up a consumer's income.

▸ shows the different combinations of two goods that the same income can purchase.

▸ shifts when real income changes.

▸ shows all combinations of the two goods that give the same level of utility.

▸ changes its slope as the relative prices of the two goods change.

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

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whtsi_ep3

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More solutions for this book are available here

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jwalker824 Author

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Thanks

dianeflunder

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Helped a lot

elizabetheldrid

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Good timing, thanks!

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