2'1'4 NORMAL, INFERIOR AND GIFFEN GOODS

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2.1.4 NORMAL, INFERIOR AND GIFFEN GOODS
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2.1.5.1a. b. Other shapes of ICs
Close substitutes, very strong SE
Close complements, almost no SE
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Close complements, almost no SE
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2.1.5.1c Satiation
ve slope, pastries bads
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2.1.5.1d. Absolute necessity
ICs Slope MRS approaches infinity as Q falls
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2.1.5.4a. Fig.3.30 Price subsidy
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2.1.5.4b. Fig.3.31 Cash grant/subsidy
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2.1.5.4c. Fig.3.32 Voucher
Lost opportunities
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2.1.5.4 Fig.3.33 Cash grant gt voucher
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2.1.5.4e. Voucher and corner solution Source
Hirshleifer (1992 111)
Where is the C. equilibrium for cash
grant? K Where is the C. equilibrium for
voucher? K Consumption change 0e1
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2.1.5.5 Charity as a neuter a good
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2.1.7 Price consumption curve and demand curve of
a Giffen good