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    Microeconomics Study Set 13
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    Exam 7: Utility Maximization
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    Refer to the Diagram
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Refer to the Diagram

Question 58

Question 58

Multiple Choice

Refer to the diagram. If the budget line shifts from ab to ac, the Refer to the diagram. If the budget line shifts from ab to ac, the   A)  price of K has increased. B)  consumer's money income has fallen. C)  price of K has decreased. D)  price of J has increased.


A) price of K has increased.
B) consumer's money income has fallen.
C) price of K has decreased.
D) price of J has increased.

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