Suppose a consumer allocates a budget to apples and oranges. Now, the prices of apples and oranges are increased by the same percentage. What change will happen to the budget line? What change will happen to the consumer's indifference curves? What will happen to the consumption of the two goods?
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Q159: Exhibit 5A-1 Q160: The point on the budget line that Q161: If the price of video games falls, Q162: As you move down your indifference curve, Q163: Indifference curves never intersect. Q165: Suppose you are having a dinner party Q166: Along a given indifference curve, marginal utility Q167: For every point along a demand curve, Q168: In terms of indifference curve analysis, equilibrium Q169: As a consumer's income rises, her indifference
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