Millet (a type of grain cereal eaten my many in the developing world) and rice are normal goods eaten by many people around the world. When the price of millet decreases, the income effect causes a: shift to a lower indifference curve, and the consumer buys fewer rice. shift to a higher indifference curve, and the consumer buys more rice. O movement along the indifference curve, and the consumer buys fewer rice. O movement along the indifference curve, and the consumer buys more rice.

Millet (a type of grain cereal eaten my many in the developing world) and rice are normal goods eaten by many people around the world. When the price of millet decreases, the income effect causes a: shift to a lower indifference curve, and the consumer buys fewer rice. shift to a higher indifference curve, and the consumer buys more rice. O movement along the indifference curve, and the consumer buys fewer rice. O movement along the indifference curve, and the consumer buys more rice.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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