Harold can consume apples and oranges. He likes them equally well and currently is in consumer equilibrium. Then the price of oranges rises, while his income remains the same. What will happen to his consumption?

Question

Answer

Consumption of oranges increases; consumption of apples decreases.

Answer

Consumption of oranges decreases; consumption of apples could either increase or decrease.

Answer

Consumption of oranges increases; consumption of apples increases.

Answer

Consumption of oranges decreases; consumption of apples increases.

Answer

Consumption of oranges decreases; consumption of apples decreases.

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Harold can consume apples and oranges. He likes them equally well and currently ...

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