Describe how indifference curve and budget line aparatus

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1. Delores has a different price consumption curve associated with each possible income level. If two of these curves intersect, are Delores' preferences rational?

2. Explain how the indifference curve and budget line aparatus are used to derive a consumers demand curve. For a demand curve, certain things are held constat. What are thay, and how does this approach hold them constant?

Reference no: EM13455430

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