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In the graph above, a rise in the price of good X changes the consumption bundle from to . We see a reduction in the
In the graph above, a rise in the price of good X changes the consumption bundle from to . We see a reduction in the consumption of good X. Which statement is true? Select all that apply. The change from to S along the x-axis is the income effect which is negative. The change from to S along the x-axis is the substitution effect which is negative. The change from S to along the x-axis is the income effect which is negative. The change from S to along the x-axis is the income effect which is positive. Good X is an inferior good
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