3.6 Lucy views Bayer aspirin and Tylenol as perfect substitutes. Initially the aspirin is cheaper. However, a

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3.6 Lucy views Bayer aspirin and Tylenol as perfect substitutes. Initially the aspirin is cheaper. However, a price increase makes aspirin more expensive than Tylenol. Show the substitution, income, and total effect of this price change in a diagram.

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Microeconomics With Calculus

ISBN: 9780273789987

3rd Global Edition

Authors: Jeffrey M. Perloff

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