Question

Economist george stigler once wrote that, according to consumer theory, if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises.

Answer 1

Imposing an interest tax is equivalent to the decrease of the interest rate. 4. George Stigler, 1982 Nobel Laureate in Economics, once wrote that, according to consumer theory,” if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises.”

Step-by-step explanation:

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Answer 2

On the off chance that purchasers don't purchase to a lesser extent a decent when their earnings rise, the positive qualities being referred to must be a typical decent. For an ordinary decent, the salary and substitution impacts both suggest that the purchaser will purchase less if the value rises.