Graphically decompose the impact of a price increase into the substitution effect and the income effect using both the Hicksian and the Slutsky methods. Assume the affected good is a normal good.

Exploring Economics
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ISBN:9781544336329
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Chapter10: Consumer Choice Theory
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4. Graphically decompose the impact of a price increase into the substitution effect and the income effect using both the Hicksian and the Slutsky methods. Assume the affected good is a normal good. 

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