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Toward the end of the 14th century and continuing into the 15th, the causes of "madness" were generally attributed to
Total Effect
Refers to the entire impact or outcome resulting from a specific action or series of actions, considering all direct and indirect consequences.
Substitution Effect
The change in consumption that occurs when a price change moves the consumer along a given indifference curve to a point with a new tangent and slope.
Income Effect
The change in consumption resulting from a change in real income, with income changes arising from changes in prices, wages, or other factors.
Inferior Good
A type of good for which demand decreases as the income of consumers increases.
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