The budget line shifts inward in a parallel way when you get less income.
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Q30: Geometrically, the consumer is at equilibrium where
Q31: As the price of food changes, the
Q32: The slope at any point on an
Q33: Use the following to answer questions :
Figure
Q34: Use the following to answer questions :
Figure
Q35: Use the following to answer questions :
Figure
Q37: All consumers have the same indifference curves.
Q38: The slope of the budget line equals
Q39: Use the following to answer questions :
Figure
Q40: In consumer equilibrium, the consumer's substitution ratio
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