Multiple Choice
Suppose a rise of 8 percent in the price of bison meat in Saskatchewan reduces the consumption of bison meat by 24 percent. Such a price rise will induce consumers to spend
A) more of their income on bison.
B) the same amount of their income on bison as before.
C) less of their income on bison.
D) more on products that are complements of bison.
E) zero dollars on bison meat.
Correct Answer:
Verified
Correct Answer:
Verified
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