Question
a)If the demand curve was perfectly vertical, explain what must be happening with the substitution effect and income effect to create the demand curve shape.
a)If the demand curve was perfectly vertical, explain what must be happening with thesubstitution effectandincome effectto create the demand curve shape.
b)If the demand curve was very flat, explain what must be happening with thesubstitution effectandincome effectto create the demand curve shape.
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Managerial Economics
Authors: Mark Hirschey
12th edition
9780324584844, 324588860, 324584849, 978-0324588866
