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Author Question: FIGURE 6-11Refer to Figure 6-11. Suppose the consumer begins at E1. The income and substitution ... (Read 14 times)

warrenjean01

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on: Oct 12, 2022

Question 1

The figures below show Chris's consumption of cappuccinos per week.



FIGURE 6-10

Refer to Figure 6-10. The slope of the budget line reflects the ________ of cappuccinos in terms of all other goods.


◦ quantity
◦ substitution
◦ opportunity cost
◦ absolute price
◦ demand

Question 2




FIGURE 6-11

Refer to Figure 6-11. Suppose the consumer begins at E1. The income and substitution effects of the reduction in the price of X are represented as follows:


◦ The distance Q1Q2 shows the income effect and the distance Q2Q3 shows the substitution effect.
◦ The distance Q1Q2 shows the substitution effect and the distance Q2Q3 shows the income effect.
◦ The distance de shows the income effect and the distance cd shows the substitution effect.
◦ The distance Q1Q3 shows the substitution effect and the distance Q2Q3 shows the income effect.
◦ The distance Q1d shows the substitution effect and the distance Q2e shows the income effect.
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Marked as best answer by warrenjean01 on Oct 12, 2022

koswald

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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warrenjean01

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Reply 2 on: Oct 12, 2022
Excellent

jojobee318

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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