Solving for Income and Substitution Effect with Ordinary and Compensated Demands

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  1. Economics in Many Lessons
  2. solving for compensated demand function
  3. solving for marhallian demand
  4. solving for hicksian demand
  5. finding income and substitution effect
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Комментарии
Автор

My left ear past the exam, my right ear didn't make it.

maiden
Автор

The total effect when increase the price is - 37.5 and the substitution effect for hicksian demand is -25.. Therefore, the income effect is -12.5.

nicktimb