Engel curves, Microeconomics

Engel Curves

-Engel curves relate quantity of good consumed to income.

-If good is a normal good, Engel curve is sloping upward.

-If good is an inferior good, the Engel curve is sloping downward.

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1586_engel curves1.png

Posted Date: 10/10/2012 7:13:09 AM | Location : United States







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