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The price of a normal good increases. Which of the following is true? The quantity demanded falls due to both the substitution and income effects.
The price of a normal good increases. Which of the following is true? The quantity demanded falls due to both the substitution and income effects. The quantity demanded increases due to the substitution effect and falls due to the income effect. The quantity demanded falls due to the substitution effect but increases due to the income effect. The quantity demanded increases due to the substitution and income effects
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