Question: how to write in more simple way for below paragraphs? Given the information that is just as happy as before, it indicates that the new

how to write in more simple way for below paragraphs? Given the information that is just as happy as before, it indicates that the new equilibrium is on the same indifference curve, implying a change in consumption patterns that allocate our budget optimally between the two goods at new prices. However, we cannot afford the exact same bundle as before the price changes due to the budget constraint's shape alteration unless the shift exactly offset changes such that purchasing power is maintained at that specific bundle, which contradicts the need for the revised consumption choice. Thus, generally, you cannot afford the exact original bundle without changes in real income

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Business Writing Questions!