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EC311 · Intermediate Microeconomics

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EC311 / TOPIC 03

2.2 Budgets and interior choice

A teaching model for this topic. Its illustrative numbers may differ from the worked question.

  1. 01Predict
  2. 02Try
  3. 03Explain
  4. 04Challenge

How does a price change pivot the budget?

Illustrative model numbers, not Thailand or current economic data.

When the X price rises with income and the Y price fixed, how does chosen X change in this example?