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When Meghan’s income was low, she could not afford vacations abroad. Her response to a pay...

When Meghan’s income was low, she could not afford vacations abroad. Her response to a pay raise is to spend more vacations in the countryside. Now that her income is high, a pay raise causes her to spend vacations abroad and go to countryside less. Draw a graph to best represent Meghan’s Engle curve for vacations in the countryside. Explain the economic meaning of the slope of the Engle curve.

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