(Figure: Price and Quantity of Skirts I) This Graph Shows

question 68

Essay

(Figure: Price and Quantity of Skirts I) This graph shows the demand curve for skirts. Suppose the consumer has $500 to spend on skirts and handbags, and the price of handbags remains unchanged at $100. Using budget constraints and indifference curves, placing skirts on the horizontal axis and handbags on the vertical axis, illustrate two of the consumer's optimal consumption bundles of skirts and handbags.

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First Thing

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