Assume that from an initial customer equilibrium position, Business Economics

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Assume that from an initial customer equilibrium position

Analysis of consumer equilibrium positions with change in the prices of goods.

Assume that from an initial customer equilibrium position, the price of good X falls while the price of good Y remains the similar. Using indifference curve analysis, explain how and why the consumer's relative consumption of the two goods will change.

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Business Economics: Assume that from an initial customer equilibrium position

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