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George is currently consuming a mix of G and T. The price of G decreases. Which of the following option is always true? (A) The
George is currently consuming a mix of G and T. The price of G decreases. Which of the following option is always true? (A) The substitution effect leads to more consumption of G (B) The income effect leads to more consumption of G (C) The substitution effect leads to more consumption of T (D) The income effect leads to more consumption of T
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
