Give reason if the income of a consumer changes and the price of 2 goods remain unchanged, a new budget line will be formed which will be parallel to the original line.
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the change in the income of a consumer will lead to the shift of budget line as the price of the two commodities remain unchanged and that is why the new budget line will be parallel to the original line.
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the change in the income of a consumer will lead to the shift of budget line as the price of the two commodities remain unchanged and that is why the new budget line will be parallel to the original line.
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