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What will an increase in money income lead to if a consumer is initially in equilibrium?



A. Move him to a new equilibrium on a lower indifference curve.
B. Make his indifference curves steeper, but will not alter the equilibrium position.
C. Have no effect on the equilibrium position because product prices have not changed.
D. Move him to a new equilibrium on a higher indifference curve.

This question is part of econ2
Asked by Rinscoe, Last updated: Aug 05, 2020

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4 Answers

chanelle

Chanelle

Answered May 18, 2020

Move him to a new equilibrium on a higher indifference curve

 

John Adney

John Adney

Answered May 16, 2017

Make his indifference curves steeper, but will not alter the equilibrium position.

 

shivutek

Shivutek

Answered May 16, 2017

Make his indifference curves steeper, but will not alter the equilibrium position.

 

John Smith

John Smith

Answered May 15, 2017

Move him to a new equilibrium on a higher indifference curve.
 

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