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.
|Published in:||The Journal of Economic Education, Vol. 21, No. 4 (1990), p. 383-387|
|Item Description:||Copyright: Copyright 1990 The Helen Dwight Reid Educational Foundation|
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