Multiple Choice
A consumer's bundle includes two normal goods, X and Y. According to the income effect, a(n) _____ in the price of good X or a(n) _____ in the price of good Y will cause the consumer to buy less of good X.
A) increase; decrease
B) increase; increase
C) decrease; increase
D) decrease; decrease
Correct Answer:
Verified
Correct Answer:
Verified
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