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This Morning, Yoriko Dazai Learned That the Price of Clams

Question 94

Multiple Choice

This morning, Yoriko Dazai learned that the price of clams had dropped overnight while the price of mussels and her income stayed constant.Assuming that she must maintain the same level of utility, an increase in Yoriko's quantity demanded of clams would be caused by


A) the income effect
B) the law of supply
C) the substitution effect
D) a perfectly elastic demand curve
E) clams being an inferior good

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