A. consumption of X and reduce the consumption of Y
B. expenditure on Y
C. expenditure on X
D. consumption of Y and reduce the consumption of X
Correct Answer:
Option D – consumption of Y and reduce the consumption of X
Explanation
At point M, the consumer consumes more of X, to move to point K, the consumer needs to consumer more of Y and less of X. Point K is the point of equilibrium where the combination of K=M
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