A-LevelEconomicsConsumer Behaviour and Utility TheoryMay/June 2019Paper 3 Q61 Mark
A consumer spends all of their income on two goods, Y and X, and is at position E. The price of X falls and the price of Y remains constant. The graph shows indifference curves and budget lines which are used to determine the price, income and substitution effects that are related to this price change.
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