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Figure 4.2 A Consumer's Original Utility Maximizing Market Basket of Goods Is

Question 83

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  Figure 4.2 A consumer's original utility maximizing market basket of goods is shown in Figure 4.2 as point A. Following a price change, the consumer's utility maximizing market basket is at point B. -Refer to Figure 4.2. The substitution effect on the quantity of clothing purchased is: A)  the change from C3 to C1. B)  the change from C3 to C2. C)  the change from C2 to C1. D)  the change from C1 to C2. E)  none of the above Figure 4.2
A consumer's original utility maximizing market basket of goods is shown in Figure 4.2 as point A. Following a price change, the consumer's utility maximizing market basket is at point B.
-Refer to Figure 4.2. The substitution effect on the quantity of clothing purchased is:


A) the change from C3 to C1.
B) the change from C3 to C2.
C) the change from C2 to C1.
D) the change from C1 to C2.
E) none of the above

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