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Remember back to our coverage of the demand curve. It was said that the prices of other products and a consumer's income can affect the
Remember back to our coverage of the demand curve. It was said that the prices of other products and a consumer's income can affect the demand of a good. In the model of consumer choice, how do we see substitutes and complements? In what way do we see the effect of their prices on the demand for another good? How do we see the effect of income on the demand for a good in the model of consumer choice?
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