Question

suppose you only consume two goods X and Y
a)If X is a normal good,graphically illustrate how to derive an Engel curve utilizing consumer choice theory.
b)If X is a normal good,graphically illustrate the income and substitution effects as the price of X decreases.

Answer 1

@dan815

Answer 2

hi, what is Engel curve

Answer 3

@ganeshie8 @abb0t @Kainui @kropot72 @perl

Answer 4

all but one of them can help you

Answer 5

I will not say which one

Answer 6

Kainui incoming

Answer 7

Engel curve describes how household expenditure on a particular good or service varies with household income

Answer 8

please help me

Answer 9

This is economics. Supply and demand graph.

Answer 10

@abb0t is a cutie^

Answer 11

Reported.

Answer 12

Can you write down the answer to this question？@abbOt