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Derive the income- consumption curve

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Reference no: EM13894313

Start, similarly to the previous exercise, with a consumer who has two goods between which she can choose. However, instead of varying the price, you now vary the income. Derive the income- consumption curve. Use the cases when the income is either doubled or cut by half. Then, use the income-consumption curve to derive the Engel curve.

Reference no: EM13894313

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