What must be true of chriss preferences

Reference no: EM13816583

Chris chooses betweentwo goods, Xand Y (seefigure below). At first, the priceof Xis low and the priceof Y is high(budget line B1). Chris tellsyou his best affordable combination of X and Y is at point A. Thenthe priceofX rises, while the priceof Y falls (budgetB2).

Chris tells you that at these new prices, his optimal consumption bundle isstillpointA. What must be true of Chris's preferences?e B1).

Chris tellsyou his best affordable combination of X and Y is at point A. Thenthe priceofX rises, while the priceof Y falls (budgetB2).

Chris tells you that at these new prices, his optimal consumption bundle isstillpointA. What must be true of Chris's preferences?

Reference no: EM13816583

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