Income and substitution effects
Topic Page
Income and substitution effectsQuestions
- When wages increase, what would happen with respect to income and substitution effects for goods and services??
- How does income and substitution effects apply to the law of demand?
- How do the income and substitution effects affect quantity demanded for luxury goods?
- What is an example of an Income and substitution effect graph?
- How do the substitution and income effects influence demand decisions?
- What is the substitution effect?
- How does changes in prices affect consumer behaviors?
- How do changes in income affect the prices of normal goods?
- What is a Veblen good?