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Consumer Choice Theory: NOTE: The Calculations used to determine the Answers have been Confirmed. Graph #1: 100 Graph #2: Fig. B.SR. Graphic Mustration of Price.

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Consumer Choice Theory: NOTE: The Calculations used to determine the Answers have been Confirmed. Graph #1: 100 Graph #2: Fig. B.SR. Graphic Mustration of Price. Demand Relationship 0. Your favorite subject is. Choose... Q to R 1. Graph #1: MRS at Point A =_ Q to S 2. Graph #1: MRS at Point B = S to R Decrease 3. Graph #1: The Relative Price Ratio at Point C = 4. Graph #1: This graph illustrates an (Increase/Decrease) in the price of good X. Increase Normal 5 Graph #1: This graph shows good X is a/an (Normal/Inferior) Good, 1/3 Economics 6: Graph #2: This graph illustrates an (Increase/Decrease) in the price of good X. Inferior 7: Graph #2: If the substitution and income effects went in the opposite direction in the graph, then good X would be afan (Normal/Inferior) Good. Choose... 8. Graph #2: The Total Effect of the price change in good X, is the movement from Point to Point Choose. 9. Graph #2: The slide on the indifference curve when the price changes in good X is the movement from Point_ to Point Choose... 10. Graph #2: The giving back of the consumers lost real income from the price change in good X is the movement from Point to Point Choose

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