The following graph shows three indifference curves and the accompanying budget constraints for products X and Y. The graph represents the price of product X falling from P_1x to P_2x and then to P_3x. Explain how a demand curve for product X can be derived from this graph and draw a graph showing the demand curve for product X.

Transcribed Image Text:

Units of Y fr 0 X A B I_X Plz C X3+2x Units of X