Good 2 $U_1$ $U_2$ a b C Good 1 Refer to the graph above. What could cause the consumer equilibrium point to shift from point a to point b? The consumer's income increased The price of good 1 decreased The price of good 1 increased The consumer's income decreased
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Step 1: If the consumer's income increased, the equilibrium point would shift from A to B. Show more…
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