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Equivalent Variation

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PPGPortal > Home > Concept Dictionary > D, E > Equivalent Variation
 

Equivalent Variation

Measures the maximum amount of income that a consumer would be willing to give up (pay) to avoid the utility loss associated with a price change.

(Varian, Hal R. 2010. Intermediate Microeconomics: A Modern Approach, 8th ed. New York: W.W. Norton, 256.)

     

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