Goods X and Y Are Compliments While
Chapter : 5
The Rational Consumer. The income and substitution effects have been sacrificed… Their definitions are straight forward and in your book.
Part V: Law of Diminishing Marginal UtilityLaw of Diminishing Marginal Utility Price Ceilings & Price FloorsPrice Ceilings & Price Floors BlackmarketsBlackmarkets.
The Rational Consumer