Business Studies, asked by himanshukumarbsrb, 5 months ago

60. A consumer's income curve can be obtained from
(A) ICC
(B) Lorenz curve
(C) PCC
(D) Engel curve

Answers

Answered by galipallisrilaxmi

Explanation:

The consumer maximizes his utility at points X* and X' and by joining these points, the income–consumption curve can be obtained. ... The income–consumption curve in this case is negatively sloped and the income elasticity of demand will be negative.

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