Suppose a consumer's income doubles. At the same time, the prices for all goods and services also double. What will happen to the consumer's optimal consumption bundle?
The consumer will consume twice as much.
The consumer will consume four times as much.
The consumer will consume half as much.
The consumer's consumption bundle will not change.
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Home » Business » Suppose a consumer's income doubles. At the same time, the prices for all goods and services also double. What will happen to the consumer's optimal consumption bundle? The consumer will consume twice as much.