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#6-revisiting-demand-function #cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4
A demand curve for bread is derived from the indifference curve map and a set of budget constraints representing different prices of bread.
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6. REVISITING THE CONSUMER’S DEMAND FUNCTION
upper exhibit, we have rotated the budget constraint rightward, indicating successively lower prices of bread, P1B , P2B , P3B , P4B , while holding income constant at I. Exhibit 15. Deriving a Demand Curve Note: <span>A demand curve for bread is derived from the indifference curve map and a set of budget constraints representing different prices of bread. This pair of diagrams deserves careful inspection. Notice first that the vertical axes are not the same. In the upper diagram, we represent the quantity of the other good,


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