If the consumer's income and all prices simultaneously triple,then his optimum will not change.

Name: If the consumer's income and all prices simultaneously triple,then his optimum will not change.
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Question

Quizplus · Accepted Answer

When both income and all prices triple simultaneously, the consumer's real purchasing power remains unchanged, allowing them to afford the same bundle of goods as before, thus keeping their optimum choice constant.

If the Consumer's Income and All Prices Simultaneously Triple,then His