What happens to a consumer's optimal choice of goods if all prices and the consumer's income double?

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What happens to a consumer's optimal choice of goods if all prices and the consumer's income double? (What happens to the intercepts of the budget constraint?)

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Microeconomics Theory and Applications with Calculus

ISBN: 978-0133019933

3rd edition

Authors: Jeffrey M. Perloff

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Question Posted: Dec 29, 2017 12:44 AM

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What happens to a consumer's optimal choice of goods if all prices and the consumer's income double?

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When all prices and income double the budget ...View the full answer

Microeconomics Theory and Applications with Calculus

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