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stars_and_moon stars_and_moon
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7 years ago
Denise only purchases two goods:  movies and bottled water.  When the price of movies decreases from $3 to $2, Denise's purchase of water increases from three bottles to five bottles.  Using income and substitution effects, explain how the change in the price of movies affected Denise's demand for water.
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kingbykingby
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7 years ago
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#2
7 years ago
Incredible!
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#3
7 years ago
I instantly knew the answer when I read the question, happy to help
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