Discuss the income effect or the substitution effect


Problem

Julian buys plants and flowers every month. Both are normal goods. When the price of flowers fell, Julian purchased fewer plants. Which effect was stronger for Julian, the income effect or the substitution effect?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Discuss the income effect or the substitution effect
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