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3. State whether each of the followng is true, false or uncertain and explain why. (20 pts] 3.) If a good is a normal good.
3. State whether each of the followng is true, false or uncertain and explain why. (20 pts] 3.) If a good is a normal good. then the substitution effect and the income effect. are of the same sign. b) If a. consumoer has CobbDouglas preferences, it is possible for one of the goods to be a Giffen good- c) If a consumer has quasi-linear preferences over two goods, then her consumption of neither good depends on her level of income
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