Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman

تمرين 4

[Uses the Indifference Curve Approach] Howard spends all of his income on magazines and novels. Illustrate each of the following situations on a graph,with the quantity of magazines on the vertical axis and the quantity of novels on the horizontal axis. Use two budget lines and two indifference curves on each graph.
a. When the price of magazines rises,Howard buys fewer magazines and more novels.
b. When Howard's income rises,he buys more magazines and more novels.
c. When Howard's income rises,he buys more magazines but fewer novels.