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The Figure Below Shows a Consumer Maximizing Utility at Two

Question 4

Multiple Choice

The figure below shows a consumer maximizing utility at two different prices (the left panel) and the consumer's demand for good X at the same two prices of good X (the right panel) .The price of good Y is $14.When the price of X increases from point M to point N along the demand curve,the income effect of the price increase is ________. The figure below shows a consumer maximizing utility at two different prices (the left panel) and the consumer's demand for good X at the same two prices of good X (the right panel) .The price of good Y is $14.When the price of X increases from point M to point N along the demand curve,the income effect of the price increase is ________. A) 175 B) 180 C) -175 D) -180 E) none of the above


A) 175
B) 180
C) -175
D) -180
E) none of the above

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