Using Marginal Benefit Curves to Illustrate Income and Substitution Effects

Points on a demand curve are shown to represent points on many different marginal benefits curves. A price change moves the consumer along a given marginal benefit curve, and the income effect moves the consumer to a new benefit curve.

Bibliographic Details
Published in:The Journal of Economic Education, Vol. 21, No. 4 (1990), p. 383-387
Main Author: Hyman, David N.
Format: electronic Article
Item Description:Copyright: Copyright 1990 The Helen Dwight Reid Educational Foundation
Physical Description:Online-Ressource
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