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The Below Figure Shows the Various Combinations of the Goods

Question 17

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The below figure shows the various combinations of the goods X and Y that yield different levels of utility.Figure 7.3
The below figure shows the various combinations of the goods X and Y that yield different levels of utility.Figure 7.3 -Other things being equal, if there is an increase in the price of the good measured on the vertical axis, the budget constraint will shift outward.
-Other things being equal, if there is an increase in the price of the good measured on the vertical axis, the budget constraint will shift outward.

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