Multiple Choice
Which of the following correctly describes an income-consumption curve?
A) It identifies consumer responses to decreases in prices which increase his or her real income.
B) It identifies the rate at which a consumer is able to substitute one good for another as income changes.
C) It identifies how a consumer's consumption pattern changes as real income changes while prices are constant.
D) It identifies the income effect of price changes.
Correct Answer:

Verified
Correct Answer:
Verified
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