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Consider the gure below. Bundle A is the original bundle, and bundle C is chosen after the price of X changes. Determine which of the
Consider the gure below. Bundle A is the original bundle, and bundle C is chosen after the price of X changes. Determine which of the following statements is FALSE. The cross-price elasticity of demand for good y with respect to the price of x positive. a. b. The income consumption curve slopes upward. .0 The price consumption curve as the price of x changes slopes downward. P- The income effect on Good y is stronger than the substitution effect. c. Good x follows the law of demand
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