Income and substitution effects: normal good, Microeconomics

Income and Substitution Effects: Normal Good

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*  The Special Case--The Giffen Good

- The income effect may be large enough theoretically to cause the demand curve for a good to upward slope.

- This seldom occurs and is of little practical interest.

Posted Date: 10/10/2012 7:20:12 AM | Location : United States







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