explain income consumption curve with diagram
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In economics and particularly in consumer choice theory, the income-consumption curve is a curve in a graph in which the quantities of two goods are plotted on the two axes; the curve is the locus of points showing the consumption bundles chosen at each of various levels of income.
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In economics and particularly in consumer choice theory, the income-consumption curve is a curve in agraph in which the quantities of two goods are plotted on the two axes; thecurve is the locus of points showing the consumption bundles chosen at each of various levels of income.
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