Provide an example of income effect and substitution effect, Ask an Expert

Economics

Q. Would taking student loans out for my education be a market equilibrating process, when I'm out of school that my debt is more than my income and I can't pay my loans, not to mention take care of myself?

Q. Provide an example of income effect and substitution effect in regards to supply of labour. Illustrate what is opportunity cost of work in this case?

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Business Economics, Economics

Category:- Business Economics
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