Angela consumes only two goods x and y her income doubles, Ask an Expert

Economics

Angela consumes only two goods, x and y. Her income doubles and the prices of the two goods remain unchanged. Assuming that she is a utility maximizer and likes both goods,

a. she will consume more of both goods.

b. the ratio of her consumption of x to y remains constant.

c. her utility doubles.

d. if her preferences are convex, she must consume more x.

e. None of the above.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92234670

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