18) Which of the following will keep a consumer on the same indifference curve even if he wishes to move to a higher one? An increase in the consumer's income b. An increase in the relative price of one good the consumer purchases, other prices remaining unchanged c. A decrease in the relative price of one good the consumer purchases, other prices remaining unchanged d. A doubling of the consumer's income and a halving of the prices of all the goods the consumer purchases

18) Which of the following will keep a consumer on the same indifference curve even if he wishes to move to a higher one? An increase in the consumer's income b. An increase in the relative price of one good the consumer purchases, other prices remaining unchanged c. A decrease in the relative price of one good the consumer purchases, other prices remaining unchanged d. A doubling of the consumer's income and a halving of the prices of all the goods the consumer purchases

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section: Chapter Questions

Problem 2CQQ

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