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Refer to the graph below. Assume that the initial equilibrium in the market for bus rides is point A [30 ricles per week]- The price
Refer to the graph below. Assume that the initial equilibrium in the market for bus rides is point A [30 ricles per week]- The price of bus rides increases and the equilibrium shifts to point B [20 rides per week]. The income effect of the change in consumer behavior is: S of other consumption 45 quiz 4 question 5 image 40 35 30 25 20 15 10 5 3o 35 4,0 45 # of bus rides 2'6 per week
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