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hi, there is something I am confused about income and substitution effects, when an income effect is positive or negative , how will it shift
hi, there is something I am confused about income and substitution effects, when an income effect is positive or negative , how will it shift in the indifference curve? When the substitution effect is positive or negative, how will it shift. Please try provide me with a diagram using different colors if possible to show me. Thanks!
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