Suppose That a Consumer's Income Triples $x$ And the Price Of $y$

question 70

Multiple Choice

Suppose that a consumer's income triples. However, at the same time, both the price of $x$ and the price of $y$ also triple. This consumer has experienced:

• A) an increase in purchasing power.
• B) a decrease in purchasing power.
• C) no change in purchasing power.
• D) a pivot in the budget constraint with an undetermined effect on purchasing power.

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Definitions:

Uncontrollably

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