Question #106830

Consider two goods, apples and pears, available for consumption. Assume that the price of apples changes while the price of pears remains fixed. For these two goods, the price consumption curve illustrates:

1) relationship between price of X and consumption of Y

2) utility-maximizing combinations of X and Y for each price of X

3) relationship between the price of Y and consumption of X

4) utility-maximizing combinations of X and Y for each quantity of X

5) combinations of apples and pears that a consumer can afford to buy

1) relationship between price of X and consumption of Y

2) utility-maximizing combinations of X and Y for each price of X

3) relationship between the price of Y and consumption of X

4) utility-maximizing combinations of X and Y for each quantity of X

5) combinations of apples and pears that a consumer can afford to buy

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