In consumer theory what is meant by the substitution effect
In consumer theory, what is meant by the 'substitution effect' and 'income effect' of a price change? How are these concepts used to classify goods as normal, inferior or Giffen?
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in consumer theory what is meant by the substitution effect and income effect of a price change how are these concepts
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question a the simple circular flow model shows that workers and capital owners offer their services to firms through
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