Inferior and Giffen Goods: Income and Substitution Effects
Автор: Spur Economics
Загружено: 2024-04-24
Просмотров: 2115
This video discusses the decomposition of the Price Effect into Income and Substitution Effects for Inferior and Giffen Goods. We focus on decomposing the price effect, the logic behind the Hicks and Slutsky Methods and how they are applied to Inferior and Giffen Goods.
Normal Goods: • Normal Goods: Income and Substitution Effects
Read more: https://spureconomics.com/income-and-...
Indifference curves and Budget line: https://spureconomics.com/indifferenc...
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