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corie corie
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6 years ago
Suppose the marginal rate of substitution is constant at 6 for all possible consumption bundles. Next suppose that the price of good 1 decreases, and the ratio P1/P2 is greater than 6.  Show that the income and substitution effects from this price change are both zero.
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Microeconomics

Microeconomics


Edition: 8th
Author:
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boransalboransal
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#1
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6 years ago
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corie Author
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6 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
taydav
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Yesterday
Brilliant ツ
ouasfoudgewu
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2 hours ago
Good timing, thanks!
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