The above graph shows the bundle of goods per day and free time per day in a country between 1900 and 013. When thinking about the difference between 1900 and 2013, which effect is more important on net, the come effect or the substitution effect? CEBUDGEI ABC 1. The above graph shows the bundle of goods per day and free time per day in a country between 1900 and 2013. When thinking about the difference between 1900 and 2013, which effect is more important on net, the income effect or the substitution effect? 14 17 19 Free time per day 22 0 1900 50 Goods per day (S) 100 2013 3.50 200

The above graph shows the bundle of goods per day and free time per day in a country between 1900 and 013. When thinking about the difference between 1900 and 2013, which effect is more important on net, the come effect or the substitution effect? CEBUDGEI ABC 1. The above graph shows the bundle of goods per day and free time per day in a country between 1900 and 2013. When thinking about the difference between 1900 and 2013, which effect is more important on net, the income effect or the substitution effect? 14 17 19 Free time per day 22 0 1900 50 Goods per day (S) 100 2013 3.50 200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. The above graph shows the bundle of goods per day and free time per day in a country between 1900 and
2013. When thinking about the difference between 1900 and 2013, which effect is more important on net, the
income effect or the substitution effect? CEBUDGEI ABC
1. The above graph shows the bundle of goods per day and free time per day in
a country between 1900 and 2013. When thinking about the difference
between 1900 and 2013, which effect is more important on net, the income
effect or the substitution effect?
14
17
19
Free time per day
22
0
1900
A
Goods per day ($)
50
100
2013
13.50
200

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