To move from point M to K, the consumer has to increase the

Economics

JAMB 2012

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

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Correct Answer: Option D

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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To move from point M to K, the consumer has to increase the

Correct Answer: Option D

Explanation

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