In the graph above, as the consumer moves from indifference curve 1 to 3, his A B C D real income is falling and his nominal income is rising. real income is rising and his nominal income is constant. nominal income is falling, but his real income is rising. real income is falling and his nominal income is constant. $Mk 200 Shelter (sqmlk),

In the graph above, as the consumer moves from indifference curve 1 to 3, his A B C D real income is falling and his nominal income is rising. real income is rising and his nominal income is constant. nominal income is falling, but his real income is rising. real income is falling and his nominal income is constant. $Mk 200 Shelter (sqmlk),

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.2P

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