File:Optimal bundle reaction to changes in income.png
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Summary
| Description |
English: The consumer's optimal consumption bundle on their original budget line is point A. When their income is increased their new budget line is shifted out to BL'. Where the consumer will consume on BL' depends on their preferences of the goods x and y. If they are normal goods the consumer's optimal bundle will move to C, if x is an inferior good they will move to point B, if y is an inferior good they will move to point D. |
| Date | |
| Source | Own work |
| Author | Cromwellecon |
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| Date/Time | Thumbnail | Dimensions | User | Comment | |
|---|---|---|---|---|---|
| current | 00:25, 23 April 2021 | | 1,036 × 840 (55 KB) | Cromwellecon | Uploaded own work with UploadWizard |
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