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    Principles of Economics Study Set 12
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    Exam 5: The Demand Curve and the Behavior of Consumers
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    What Is the Difference Between the Income Effect and Substitution
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What Is the Difference Between the Income Effect and Substitution

Question 55

Question 55

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What is the difference between the income effect and substitution effect of a change in the price of a good?

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The income effect is the amount by which...

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