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onsider the following graph and state which one is not true: a) The individual has an income of m. b) If price of X decreases the individual will be on a higher indifference curve. c) The individual buys equal quantities of Y but higher quantities of X after the price of X decreases. d) The individual buys more quantities of x and y afte

onsider the following graph and state which one is not true: a) The individual has an income of m. b) If price of X decreases the individual will be on a higher indifference curve. c) The individual buys equal quantities of Y but higher quantities of X after the price of X decreases. d) The individual buys more quantities of x and y afte

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Consider the following graph and state which one is not true:

a) The individual has an income of m.
b) If price of X decreases the individual will be on a higher indifference curve.
c) The individual buys equal quantities of Y but higher quantities of X after the price of X decreases.
d) The individual buys more quantities of x and y after the price of X decreases.
Y m Pyl y* * X1 m Px1 x2 12 m Px2 X
Transcribed Image Text:Y m Pyl y* * X1 m Px1 x2 12 m Px2 X
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Indifference curve shows the different combinations of two goods that provide the same level of satisfaction or utility remains same along the indifference curve. 

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