Show graphically slutsky and hicks decomposition

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Reference no: EM131166388

1. Show graphically slutsky and hicks decomposition when price of x increases for normal good, inferior good (ordinary ) and giffen good. Label your graphs properly and label income effect and substitution effect in your graph.

2. Derive the marshallian demand curve, hicksian demand curve, slutsky demand curve. Which one is the steepest?

Reference no: EM131166388

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