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Are people worse off when the price level rises as fast as their income?  Why do people often feel worse off in such circumstances.


Are people worse off when the price level rises as fast as their income?  Why do people often feel worse off in such circumstances.

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Answer - In the pareto optimal condition "We have to make someone better off with out making others worse off" with this keeping in mind . As the Income of person incerases and the price rate increases with same praportio...

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Consumer demand theory

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