Economy, asked by chanchalmeena696, 6 months ago

prove is price effect sum total of income or substitution effect​

Answers

Answered by Itzkrushika156
1

Explanation:

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. ... Some products, called inferior goods, generally decrease in the consumption whenever incomes increase.

Answered by advkhayer
0
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