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Suppose that at prices p 1 = 1, p 2 = 2 and income I = 20, a consumer chooses consumption bundle x . At
Suppose that at prices p1 = 1, p2 = 2 and income I = 20, a consumer chooses consumption bundle x. At prices p1 = 2, p2 = 1 and income I = 20 the consumer chooses consumption bundle y, where y not equal x. Show by means of three graphs that all off the following are possible (assuming standard preferences with decreasing MRS).
(a) x y,
(b) x y,
(c) y x.
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