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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.
meaning of economics laws
What is the arc cross elasticity of demand between Stop decay''s toothbrush and Decay fighter''s toothbrush? What does this indicate about the relationship between the two products
what is direct utility in micro economics?
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