| 21. | The Income and Substitution effects of a wage increase " The Income and Substitution effects of a wage increase"
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| 22. | The substitution effect increases consumption of washing from Q1 to QS, and the income effect from QS to Q2.
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| 23. | One is based on the " gene-model effects ", while the other is based on the " genotype substitution effects"
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| 24. | This difference is attributable to the behavioural changes induced by a distortionary tax that are measured by a substitution effect.
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| 25. | Some economists predict that a substitution effect will spur demand for alternate energy sources, such as coal or liquefied natural gas.
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| 26. | As the price of a commodity falls, consumers move toward it from relatively more expensive goods ( the substitution effect ).
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| 27. | If the good is an " inferior good ", then the income effect will offset in some degree the substitution effect.
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| 28. | The total effect of the price drop on quantity demanded is the sum of the substitution effect and the income effect.
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| 29. | The result is a substitution effect because of the decreased relative price, but also an income effect due to the increased real income.
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| 30. | An example would be the hypothetical separation of the income effect and the substitution effect of a price change, which actually go together.
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