A consumer is willing to trade one pound of chicken for three pounds of pork. He is currently purcha


Question: A consumer is willing to trade one pound of chicken for three pounds of pork. He is currently purchasing as much chicken as pork per month. The price of chicken is twice the price of pork. Should he increase his consumption of pork and reduce his consumption of chicken? Or should he reduce his consumption of pork and increase his consumption of chicken? Explain and draw a picture.

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Solution Format: Word Document

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