Tag: substitution-effect

Tag: substitution-effect

1 page tagged substitution-effect.

Pages

• Chapter 15: Supply and Demand: Consumer Behavior — Economics 101

  Why consumers buy what they buy — utility maximization under a budget constraint, diminishing returns, the three drivers of the law of demand, and price elasticity.

Related tags

• consumer-behavior
• utility
• diminishing-returns
• law-of-demand
• elasticity
• income-effect