Chapter Eight Slutsky Equation. Effects of a Price Change u What happens when a commoditys price decreases? –Substitution effect: the commodity is relatively.
Ch8
Chapter Eight Slutsky Equation. Effects of a Price Change u What happens when a commodity’s price decreases? –Substitution effect: the commodity is relatively.
Chapter Eight Slutsky’s Equation. Effects of a Price Change u What happens when the price of a commodity decreases? u First, the commodity becomes relatively.
Learning Objective: – Today I will be able to identify what changes demand by writing a summary about how I have contributed to demand. Agenda: 1.Finish.
