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assume that the consumer consumes two goods X and Y, and the good X is giffen good. graphically show the effects of a price change
assume that the consumer consumes two goods X and Y, and the good X is giffen good. graphically show the effects of a price change in good X on the consumer's optimal choice be sure to decompose the total effect of this price change into the income and substitution effects. furthermore use your graph to graphically derive the demand curve for the good whose price has changed
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