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33. The price of milk decreases. The quantity of milk consumed does not change but the quantity of cookies consumed increases. Why? a. The income

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33. The price of milk decreases. The quantity of milk consumed does not change but the quantity of cookies consumed increases. Why? a. The income effect was positive and the c. The income effect was less than the substitution effect was negative. substitution effect. b. The income effect was at least as large as d. Both the income effect and the the substitution effect. substitution effect were positive

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