An increase in income changes the slope of the budget constraint towards the cheaper good.
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Q11: The slope of an indifference curve reflects
Q12: A budget constraint shows the bundles of
Q13: When goods are not easy to substitute
Q14: The indifference curve maps out the consumption
Q15: The budget constraints shows the different possible
Q17: Indifference curves can be used to rank
Q18: The rate at which a consumer is
Q19: A consumer who chooses to consume at
Q20: When a consumer's consumption of one good
Q21: The marginal rate of substitution is also
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