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. Assume that an individual's income is yo where y is a numeraire good. In a carefully labelled diagram, depict the substitution effect and income
. Assume that an individual's income is yo where y is a numeraire good. In a carefully labelled diagram, depict the substitution effect and income effect for good x when the initial price of x, y0/3x0, increases to yo/Xo, assuming that good x is an inferior good but not a Giffen good
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