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    alionline83's Avatar
    alionline83 Posts: 40, Reputation: 2
    Junior Member
     
    #1

    Apr 5, 2007, 01:08 PM
    Total effect + income effect = Substitution effect?
    In intermediate economics we are told that Total Effect = Income effect + Substitution effect but in advance level this relation is changed to
    Total effect+income effect = substitution effect

    why is that? Please explain with logic
    alionline83's Avatar
    alionline83 Posts: 40, Reputation: 2
    Junior Member
     
    #2

    Apr 5, 2007, 11:55 PM
    Any one?

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