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Suppose that money income increases by 10% while the prices of goods X and Y increase by 20%. These changes will Multiple Choice cannot say
Suppose that money income increases by 10% while the prices of goods X and Y increase by 20%. These changes will
Multiple Choice
cannot say for sure.
leave the consumer's consumption bundle unchanged.
will consumer to be worse off than before as he can only afford a consumption bundle on a lower indifference curve.
consumer to be better off than before as he can afford a consumption bundle on a higher indifference curve.
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