1. Explain why the consumer will not choose the consumption bundle at point v. M

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1. Explain why the consumer will not choose the consumption bundle at point v. Malt 2. Explain why the consumer will not choose the consumption bundle at point z IC IC2 3. Explain why the consumer will choose the consumption bundle at point x IC Hops 1. Identify the point of consumer equilibrium and label it X. Mark the original consumption levels for both goods 2. Draw a new budget line and label it B'B', such that the consumer will now specialize in consuming the other good Describe the change in market conditions that this represents oin chips IC Potato chips

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Diagram 3:

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