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Janet Chang has to choose between buying more school supplies or more cosmetic products for the week. She has a fixed income and she knows the prices of both products. Using indifference curves and budget constraint lines, illustrate the amount of school supplies and cosmetic products that Janet will purchase.When she gets to the store, she finds the price of cosmetic products has fallen dramatically. How does this change his optimal purchase?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M959962

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