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What will an increase in money income lead to if a consumer is initially in equilibrium?

What will an increase in money income lead to if a consumer is initially in equilibrium?<br/>

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Asked by Rinscoe, Last updated: Nov 09, 2024

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4 Answers

chanelle

chanelle

chanelle
Chanelle

Answered May 18, 2020

Move him to a new equilibrium on a higher indifference curve

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John Adney

John Adney

John Adney
John Adney

Answered May 16, 2017

Make his indifference curves steeper, but will not alter the equilibrium position.

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shivutek

shivutek

shivutek
Shivutek

Answered May 16, 2017

Make his indifference curves steeper, but will not alter the equilibrium position.

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John Smith

John Smith

John Smith
John Smith

Answered May 15, 2017

Move him to a new equilibrium on a higher indifference curve.
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