Solved: Y is a normal, suppose you consume two goods x and y suppose also

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Y is a normal

Suppose you consume two goods, X and Y, Suppose also:
- Y is a normal good.
- When the price of X goes up, you increase your consumption of Y.
Illustrate the income and substitution effects on your consumption of Y. Which effect is bigger? Justify your answer.

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Microeconomics: Y is a normal

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Microeconomics: Y is a normal

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