=+h. Compare the size of the substitution effect you have calculated for my family and that you
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=+h. Compare the size of the substitution effect you have calculated for my family and that you calculated for my friend’s family and illustrate your answer in a graph with pounds of turkey on the horizontal and other consumption on the vertical. Relate the difference in the size of the substitution effect to the elasticity of substitution.
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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