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Which of the following illustrates the income effect? Select the correct answer below: When the price of Good A decreases, John buys more of both
Which of the following illustrates the income effect? Select the correct answer below: When the price of Good A decreases, John buys more of both Good A and Good B When the price of Good A increases, John prefers to buy more of Good B. When the price of Good A increases, John's purchasing power increases. When the price of Good B decreases, John prefers to buy less of Good A
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