The compensated budget line represents:
A) the change in income required to move the individual to the new consumption point.
B) the change in income required to move the individual to the old indifference curve.
C) the change in income required to move an individual back to the old consumption point.
D) the change in income required to move the individual to the new indifference curve.
Correct Answer:
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A)is parallel with the
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A)is a theoretical impossibility.
B)is an
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A)has an upward sloping demand
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A)the income effect.
B)the
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