The chapter states that when the price of an inferior good falls, the income effect and substitution

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The chapter states that "when the price of an inferior good falls, the income effect and substitution effect work in opposite directions." Explain what this statement means.

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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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Question Posted: Nov 01, 2017 07:05 AM

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The chapter states that when the price of an inferior good falls, the income effect and substitution

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Economics

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