Question
Suppose the price of good x decreases. You know that the income effect of this decrease is 6, the substitution effect is 10, (not considering
Suppose the price of good x decreases. You know that the income effect of this decrease is 6, the substitution effect is 10, (not considering the signs). The total effect could be
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
