Question
For inferior goods as the price rises A. Income effect encourages less consumption B. Substitution effect encourages more consumption C. Incomeeffect encourages more consumption D.
For inferior goods as the price rises
A. Income effect encourages less consumption
B. Substitution effect encourages more consumption
C. Incomeeffect encourages more consumption
D. Quantity demanded rises
E. Both A and B are correct
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The American Economy
Authors: Walter Greason, William Gorman
1st Edition
1524902675, 9781524902674
