## (Solved) 1. Mrs. X spends all her income on Apples and Bananas. If the price of both goods rises by 10 percent, which of these statements are correct? I. If...

1. Mrs. X spends all her income on Apples and Bananas. If the price of both goods rises by 10 percent, which of these statements are correct? I. If we give Mrs. X 10 percent more income, she would be as happy as before the price increase. 11. After the price increase, she will consume goods Apples and Bananas in the same proportion as before. 111. After the price increase, she will consume more of the cheaper good. a. I only b. I and II c. I, II and 111 (1. None of the above
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