Multiple Choice
A consumer allocates all income between two products, A and B. If, on an indifference map, the equilibrium position shifts onto a higher indifference curve, then
A) the consumer must be purchasing more of both products.
B) the relative prices of A and B must have changed.
C) the prices of A and B must have increased.
D) total utility must have increased.
Correct Answer:
Verified
Correct Answer:
Verified
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