Income and Substitution Effects: Graphical Analysis for Intermediate Microeconomics

Ambrose Leung (), Maureen McGregor and Justin Chesney

Journal for Economic Educators, 2014, vol. 14, issue 1, 97-107

Abstract: The graphical analysis of the income and substitution effects is an important part of consumer theory that is commonly taught at the level of intermediate microeconomics. Few textbooks, however, devote much discussion of these effects for perfect substitutes. The purpose of this paper is to fill that gap by producing a more complete graphical analysis of the subject matter and thereby enhance student learning.

Keywords: consumer theory; income effect; substitution effect (search for similar items in EconPapers)
JEL-codes: A22 D11 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:mts:jrnlee:v:14:y:2014:i:1:p:97-107

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