Business Studies, asked by shazad0786khan112, 11 months ago

diagrammatically explain concept of income effect substitution effect and price effect also show the manner in which price effect can be split up into income and substitution after​

Answers

Answered by praveenpareek
0

Answer:The income effect expresses the impact of increased purchasing power on consumption, while the substitution effect describes how consumption is impacted by changing relative income and prices

Explanation:

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