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Imagine that a person buys two goods, x and y. If the price of y decreases, what is true about the income and substitution effects

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Imagine that a person buys two goods, x and y. If the price of y decreases, what is true about the income and substitution effects for x? Match the sign (positive or negative) to the expected substitution and income effect for each good. Substitution effect for x [ Choose ] Income effect for x [ Choose ] Question 8 2 pts Consider the production function Q = VL + VK, where L is labor and K is capital. This production function exhibits? No returns to scale Constant returns to scale Increasing returns to scale Decreasing returns to scale

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