What is the income effect of a price increase?

Question

asked Feb 13, 2024 22.5k views

1 Answer

Lasse Christiansen · Answer 1 · 2024-02-17T06:22:39+0000

Answer: The income effect of a price increase is the change in consumption that results from the decrease in the purchasing power of consumers’ income.

Step-by-step explanation:

What is the income effect of a price increase?

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions