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When the price of a product falls, the purchasing power of our money income rises and thus permits consumers to purchase more of the product.

When the price of a product falls, the purchasing power of our money income rises and thus permits consumers to purchase more of the product. This statement describes Question 12 options: A) an inferior good. B) the income effect. C) the rationing function of prices. D) the substitution effect

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978-1429244091

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