A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2018Paper 3 Q51 Mark
The line RS in the diagram shows the different combinations of goods X and Y that a consumer can afford with her present income. [Figure: Diagram showing quantity of Y on y-axis, quantity of X on x-axis, a downward sloping line RS, and points N and M on the line.] The consumer's original equilibrium is at M. What could explain a subsequent change in her equilibrium position to N? A a change in her tastes B an increase in the price of X and a fall in the price of Y C an increase in the price of X and a smaller percentage increase in the price of Y D equal percentage increases in her income and in both prices
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