The Influence of Lexicographic Preference Ordering on Relative Demands under Alternative Price Ratios--A Graphical Presentation.

The Influence of Lexicographic Preference Ordering on Relative Demands under Alternative Price Ratios--A Graphical Presentation.

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Examination of the effect of relative price changes on the demands for goods or factors of production that are lexicographically ordered in a utility or preference function. Because of this unique ordering, no substitution effects are possible. Mor...