Multiple Choice
The income effect of a decrease in the price of macaroni and cheese (assume this is an inferior good) results in
A) a decrease in the demand for macaroni and cheese.
B) an increase in the quantity of macaroni and cheese demanded.
C) a decrease in the quantity of macaroni and cheese demanded.
D) an increase in the demand for macaroni and cheese.
Correct Answer:
Verified
Correct Answer:
Verified
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