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Good Questions!

A consumer has income of $9,000. Coffee costs $3 a cup and pastries cost $2 each. Draw the consumer budget constraint. What is the slope? What would happen if income rises to $12,000? What would happen if the price of coffee falls to $2 per cup? What would happen if the price of pastries rises to $4.50 each?

What is the consumer indifference curve for 1 yuan notes and 1 yuan coins most likely to look like?

What are the four properties of indifference curves?

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Categories: Microeconomics
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