A.9 Income and substitution effects | Consumption - Microeconomics

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Policonomics

Policonomics

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Versión en español: • A.9 Efectos de renta y...
This video explains what the income and substitution effects are, and how to analyse them in order to understand why we buy more goods when their price goes down.
Related videos:
-Marshallian and Hicksian demand curves: • A.10 Marshallian and H...
-Indifference curves: • A.2 Indifference curve...
Related articles:
-Marshallian and Hicksian demand curves: www.policonomics.com/marshalli...
-Marginal rate of transformation: www.policonomics.com/marginal-...
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