Figure 4.2
A consumer's original utility maximizing market basket of goods is shown in Figure 4.2 as point A. Following a price change, the consumer's utility maximizing market basket is at point B.
-Refer to Figure 4.2. The income effect on the quantity of clothing purchased is:

Question

Quizplus · Accepted Answer

The Answer of  Figure 4.2
A consumer's original utility maximizing market basket of goods is shown in Figure 4.2 as point A. Following a price change, the consumer's utility maximizing market basket is at point B.
-Refer to Figure 4.2. The income effect on the quantity of clothing purchased is:

Figure 4.2 A Consumer's Original Utility Maximizing Market Basket of Goods Is