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Income and substitution effects.Suppose there are two goods X and Y and the price of X decreases.X is a normal good.Explain, in terms of income
Income and substitution effects.Suppose there are two goods X and Y and the price of X decreases.X is a normal good.Explain, in terms of income and substitution effects, why the quantity purchased of Y might increase and why the quantity purchased of Y might decrease.
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