ECN 2110 Week 3 Discussion 4 | Baker College
- Baker College / ECN 2110
- 17 Apr 2021
- Price: $8
- Accounting & Economics Assignment Help / Macroeconomics
ECN 2110 Week 3 Discussion 4 | Baker College
Substitution & Income Effects
How do the substitution and income
effects influence purchases? Identify a good or service, such as gasoline,
breakfast cereal, shoes, or pizzas. Assume there is an overall increase in the
price of the product. What happens to the quantity purchased?
Avoid repetition by reading prior posts
in the thread. Proceed to my next question in thread or interact with a
colleague with new insights, graph and a reference.
Interact with colleagues by providing new insights. Research the
topic before posting. I will post additional questions in my
responses. Review prior posts in the thread.
Here is a YouTube video:
Difference between Income and Substitution Effects
https://www.youtube.com/watch?v=yqP1FSbS3l0
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