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Explain why, when the indifference curve is convex to the origin, the substitution effect will always result in the consumer wanting less of good X,
Explain why, when the indifference curve is convex to the origin, thesubstitution effectwill always result in the consumer wanting less of good X, as the price of good X rises. You may use your diagram from draw a diagram to answer this part of the question. In your answer, you donotneed to discuss the income effect, as this question only requires you to investigate the substitution effect.
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