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Consider a two-good world good x and good y the icc income

Consider a two-good world: good x and good y. The ICC (income consumption curve) between good x and good y has a negative slope and the Engle curve of good x has a positive slope. It follows that, during a recession (i.e., consumers' income goes down)

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Business Management: Consider a two-good world good x and good y the icc income

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