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Updated: Jan 20, 2026

Income and Substitution Effects
01:17

Income and Substitution Effects

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The effects of state-level earned income tax credits on suicides

Otto Lenhart1

  • 1Department of Economics, University of Strathclyde, Duncan Wing, Strathclyde Business School, Scotland, UK.

Health Economics
|August 31, 2019
PubMed

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Income and Substitution Effects01:17

Income and Substitution Effects

When the price of a product changes, it affects the consumption behavior of the consumer. This change in consumption is called the total effect, which is the sum of the substitution effect and income effect.
When the price of a good decreases, consumers tend to substitute it for other goods. For example, the student purchases more books when the price of books decreases from $20 per unit to $10 per unit, while the price of snacks remains at $5 per unit. The relative price of books to snacks...
349
Amplification of a Suicide Plasmid in a Bacterial Host02:41

Amplification of a Suicide Plasmid in a Bacterial Host

Source: Tomás, J. M., et al. Generation of Null Mutants to Elucidate the Role of Bacterial Glycosyltransferases in Bacterial Motility. J. Vis. Exp. (2022).This video demonstrates the initiator-dependent amplification of a suicide plasmid in E. coli. The plasmid, which carries an antibiotic resistance gene, replicates only in the presence of an initiator protein encoded by the host. After electroporation and incubation in recovery medium, the mixture is plated on antibiotic-containing agar.
275
Line of Credit01:22

Line of Credit

A line of credit is crucial for businesses, offering immediate access to funds without the lengthy approval processes associated with traditional loans. It provides a financial cushion, ensuring companies can cover unexpected expenses, deal with supply chain disruptions, or seize growth opportunities without delay. This flexibility is especially valuable in industries with seasonal demand or fluctuating cash flow, such as retail and manufacturing.
Another advantage is that lines of credit can...
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Taxes01:30

Taxes

A tax is a mandatory financial charge levied by the government on the quantity of a good sold in the market. An excise tax targets specific goods, often to curb the consumption of certain harmful products.
When an excise tax is imposed on good X, the supply curve shifts leftward by the amount of the tax, reflecting higher production costs for sellers. This shift results in a new equilibrium where the price consumers pay increases while the quantity of good X sold decreases.
The increase in the...
402
Income Statement: Income01:20

Income Statement: Income

Income is typically divided into operating and non-operating categories. The income statement captures the revenue a business earns and the gains it reports during a specific accounting period, applying the matching concept to align income with corresponding expenses.
Operating Income refers to revenue generated from a company's core operations. It includes sales of goods or services directly tied to the business's primary activities. For example, a retail company's product sales...
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Trade Credit from Suppliers01:12

Trade Credit from Suppliers

Trade credit is a key tool for businesses to manage their cash flow and operations efficiently. It is crucial in supporting business growth, especially for small and medium-sized enterprises (SMEs) that may lack access to traditional financing. Trade credit allows companies to bridge the gap between purchasing inventory and receiving cash from sales, which is particularly helpful for businesses with fluctuating cash flows or seasonal demands. Short-term financing can ease cash constraints,...
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