Consumer will reach a higher indifference curve

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Reference no: EM13999012

A) With an increase in income a consumer will reach a higher indifference curve. But can an increase in income also change his preferences? Discuss.

B) Generally it is assumed that more is preferred to less. If this is the case, how could a consumer reach satiation level? Give an example where a consumer is likely to reach the satiation level

Reference no: EM13999012

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