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Noar Noar
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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 (ii), the consumer's move from point Z to point Y is caused by



▸ an increase in the price of milk.

▸ a decrease in the price of bread.

▸ a decrease in money income.

▸ an increase in the price of bread.

▸ a change in the consumer's preferences towards milk.
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Microeconomics

Microeconomics


Edition: 17th
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hadu582hadu582
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