Answer to Question #27253 in Microeconomics for sasslow nehale

Question #27253
john a consumer spends all of his income on two goods x and y.both goods are normal but not complementary.the price of good x is reduced but the price of good y is unchanged.the consumer continue to spend all of his income on the two goods. a distinguish between the substitution effect and the icome effect of the price reduction in good x.
b explain the assumptions concerning the consumer behaviour
0
Expert's answer

Answer in progress...

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS