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8.14: Introduction to Changes in Consumer Equilibrium

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  • What you’ll learn to do: explain how consumer utility changes when income or prices change

    Woman handing money to a bar tender.

    Imagine you were to create a pie chart of your college budget and spending. Where does most of your money go? Is it spent on housing? Tuition? Maybe on a car payment or food? How much money goes towards savings, entertainment, or a night out with friends? In this section, you’ll see how consumer choices change when one’s budget changes or the prices of the things one buys changes.

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    • Introduction to Changes in Consumer Equilibrium. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution
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