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lotusflwr lotusflwr
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A year ago
Consider the income and substitution effects of price changes. The substitution effect is the change in quantity demanded that occurs

▸ as a result of a change in relative prices, with real income held constant.

▸ when one good is substituted for another.

▸ as a result of a change in absolute prices, with real income held constant.

▸ as a result of a change in relative prices, with money income held constant.

▸ with a change in the relative prices of two or more goods.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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live4outdoorslive4outdoors
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A year ago
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lotusflwr Author
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A year ago
Thank you, thank you, thank you!
djeghri
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Yesterday
This helped my grade so much Perfect
Kstan109
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2 hours ago
Smart ... Thanks!
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