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Tags
#6-revisiting-demand-function #cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4
Question
What’s left of his response must be due to the [...] effect. So, we say that the [...] effect is shown by the move from point a to point b.
If his [...] were then restored, the resulting movement from point b to point c must be the [...]
If his [...] were then restored, the resulting movement from point b to point c must be the [...]
Answer
substitution
substitution
income reduction
income effect.
substitution
income reduction
income effect.
Tags
#6-revisiting-demand-function #cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4
Question
What’s left of his response must be due to the [...] effect. So, we say that the [...] effect is shown by the move from point a to point b.
If his [...] were then restored, the resulting movement from point b to point c must be the [...]
If his [...] were then restored, the resulting movement from point b to point c must be the [...]
Answer
?
Tags
#6-revisiting-demand-function #cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4
Question
What’s left of his response must be due to the [...] effect. So, we say that the [...] effect is shown by the move from point a to point b.
If his [...] were then restored, the resulting movement from point b to point c must be the [...]
If his [...] were then restored, the resulting movement from point b to point c must be the [...]
Answer
substitution
substitution
income reduction
income effect.
substitution
income reduction
income effect.
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Substitution effect and income effect
reduction. If the income reduction is just sufficient to leave him no better or morse than before the price change, we have removed the real income effect of the decrease in price. What’s left of his response must be due to the <span>substitution effect . So, we say that the substitution effect is shown by the move from point a to point b. If his income reduction were then restored, the resulting movement from point b to point
Substitution effect and income effect
reduction. If the income reduction is just sufficient to leave him no better or morse than before the price change, we have removed the real income effect of the decrease in price. What’s left of his response must be due to the <span>substitution effect . So, we say that the substitution effect is shown by the move from point a to point b. If his income reduction were then restored, the resulting movement from point b to point
Summary
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |
Details
No repetitionsDiscussion
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