To move from point M to K, the consumer has to increase t...
To move from point M to K, the consumer has to increase the
Consumption of X and reduce the consumption of Y
Expenditure on Y
Expenditure on X
Consumption of Y and reduce the consumption of X
Correct answer is D
At point M, the consumer consumes more of X, to move to point K, the consumer needs to consumer more of Y and less of X. Point K is the point of equilibrium where the combination of K=M
Similar Questions
In the diagram III refers to the calculation of national income through the ...
The coefficient of the price elasticity of supply is always_____________ ...
Life insurance companies contribute to economic development by holding a part of their assets in ...
A factor that has slowed down the rate of industrial development in West Africa is ...
Labour force simply means the ...
Malthus population theory stated that ...
Which of the following will occur when the market is unstable? ...