Tammy spends her money on lemonade and iced tea. If the price of lemonade falls, it is

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Tammy spends her money on lemonade and iced tea. If the price of lemonade falls, it is as though her income __________________.

a. Increases

b. Decreases

c. Stays the same

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Microeconomics Principles, Problems and Policies

ISBN: 978-1259450242

20th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn

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Question Posted: Apr 24, 2018 08:48 AM

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Tammy spends her money on lemonade and iced tea. If the price of lemonade falls, it is

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a Increases A persons income is not same thing as their budget Rather their income is the amount of ...View the full answer

Microeconomics Principles, Problems and Policies

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