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Substitution and Income Effects
Questions (2)
Fact 1: "The substitution effect(SE) must ALWAYS be negative (i.e. goes in the opposite direction to the change in PRICE). The
2 answers
asked by
Victor
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Consider a consumer who consumes only two goods: rice and beans. She has an income of k1000.00, the price of beans is k20 per kg
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asked anonymously
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Parent Categories (2)
Consumer behavior
Microeconomics
