A student in Managerial Economics states the following. The equilibrium consumption bundle is the affordable bundle that yields the greatest satisfaction to the consumer. Therefore, if consumer income doubles and, the price of good X and the price good Y both double simultaneously, then the equilibrium consumption bundle will move up. This is the case because the combined increase in the prices of good X and good Y is greater than the increase in income. Do you agree or disagree with the student? Explain in detail your answer.

A student in Managerial Economics states the following. The equilibrium consumption bundle is the affordable bundle that yields the greatest satisfaction to the consumer. Therefore, if consumer income doubles and, the price of good X and the price good Y both double simultaneously, then the equilibrium consumption bundle will move up. This is the case because the combined increase in the prices of good X and good Y is greater than the increase in income. Do you agree or disagree with the student? Explain in detail your answer.