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QUESTION 4 A is Giffen good, and B is a inferior good. (a) When the consumer has more income, she must consume fewer A. True
QUESTION 4
A is Giffen good, and B is a inferior good.
(a) When the consumer has more income, she must consume fewer A. True or false, why?
(b) When the price of B decreases, the consumer may consume more B. True or false, why?
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