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Economics (AS & A Level) · Oct / Nov 2022 · Paper 33 · Question 6

9708Indifference curves and budget lines

The diagram shows an individual's budget lines and indifference curves. The initial budget line is JL. There is then an increase in the price of good Y. Which distance represents the substitution effect of the increase in price of good Y?

  1. ALK
  2. BSR
  3. CTS
  4. DTR

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Correct answer: C. TS

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