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EC311 · Intermediate Microeconomics

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EC311 / TOPIC 03

2.2 Budgets and interior choice

One idea at a time · explore as you learn1 / 11

How do prices and income jointly determine an interior optimum?

Top-down scene with coffee, a wallet, a notebook, and several curves crossing a dashed line at an orange point
VISUAL NOTE · Consumer choice Preference meets the budget at the chosen bundle

How should you split a 120-baht budget between two goods?

EC311 / GRAPHTry changing a value
  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?