According to consumer demand theory, a price increase affects an individual consumers demand for a goodd

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    by rotating and shifting the budget line away from the origin, causing the consumer to choose a market basket with a higher quantity of goods and services.
     by changing the slope of the indifference curve, causing the consumer to choose a market basket with a lower quantity of goods and services.
     by rotating and shifting the budget line towards the origin, causing the consumer to choose a market basket with a lower quantity of goods and services.
     by shifting the indifference curve up and to the right, causing the consumer to choose a market basket with a higher quantity of goods and services.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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by rotating and shifting the budget line towards the origin, causing the consumer to choose a market basket with a lower quantity of goods and services.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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