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When a consumer experiences a price increase for an inferior good, which of the following situationsis possible? Select one: a.The income effect is less than
When a consumer experiences a price increase for an inferior good, which of the following situationsis possible?
Select one:
a.The income effect is less than the substitution effect, and the demand curve will be upward sloping.
b.The income effect is greater than the substitution effect, and the demand curve will be downward sloping.
c.The income effect is greater than the substitution effect, and the demand curve will be upward sloping.
d.The income effect is less than the substitution effect, and the demand curve will be downward sloping.
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