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Vethier 2016 Vethier 2016
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A year ago


Short description: Two graphs plot the quantity of bread per week against the quantity of milk per week. Long description: In each graph, the horizontal axis represents the quantity of bread per week. The vertical axis represents the quantity of milk per week. The first graph shows three decreasing lines, an increasing line, and three concave up decreasing curves. The lines end at B subscript 1, B subscript 2, and B subscript 3 on the horizontal axis. The first decreasing line, the increasing line, and the first curve intersect at A. The second decreasing line, the increasing line, and the second curve intersect at B. The third decreasing line, the increasing line, and the third curve intersect at C. The second graph shows three decreasing lines, and three concave up decreasing curves. The lines end at B subscript 1, B subscript 2, and B subscript 3 on the horizontal axis. The first decreasing line, the increasing line, and the first curve intersect at X. The second decreasing line, the increasing line, and the second curve intersect at Y. The third decreasing line, the increasing line, and the third curve intersect at Z. A dashed curve passes through the points, X, Y, and Z.

FIGURE 6-9

Refer to Figure 6-9. In part (i), the consumer is able to move from point A to point B because of



▸ a decrease in the price of one good and an increase in money income.

▸ an increase in real income.

▸ a decrease in the price of bread.

▸ a decrease in money income.

▸ a decrease in the price of milk.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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Ms T.Ms T.
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