Assume Gloria Is Initially in Equilibrium and That X and Y

question 100

Multiple Choice

Assume Gloria is initially in equilibrium and that X and Y are normal goods for her. Then the price of X falls. For Gloria to move to a new equilibrium point her consumption of

• A) X must remain constant, but her consumption of Y must decrease.
• B) X must decrease.
• C) X must increase.
• D) both X and Y must decrease.

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