Sophia ECON 1002 Microeconomics Study guides, Revision notes & Summaries
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ECON 1002 Microeconomics Sophia Milestone 2
- Exam (elaborations) • 44 pages • 2021
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ECON 1002 Microeconomics Unit 2 Milestone 
 
Click below link for Answer 
 
1 
 
Determine which statement below applies when income goes down. 
 
• 
 
Consumer preference for inferior goods decreases. 
 
• 
 
Consumer preference for normal goods increases. 
 
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The indifference curve shifts to the right. 
 
• 
 
The indifference curve shifts downward and to the left. 
 
 
 
Budget Constraints: Change in Income 
 
2 
 
Last month, Robert’s in...
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