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There are 2 goods that you consume, the price of good A drops. You consume more of good A because of the income effect, and
There are 2 goods that you consume, the price of good A drops. You consume more of good A because of the income effect, and because of the substitution effect, briefly explain the difference between the income effect and the substitution effect
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
