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What Is the Income Effect of an Increase in the Price

Question 107

Multiple Choice

What is the income effect of an increase in the price of Kraft Dinner (an inferior good) ?  


A)  a decrease in the demand for Kraft Dinner 
B)  a decrease in the quantity demanded of Kraft Dinner 
C)  an increase in the demand for Kraft Dinner 
D)  an increase in the quantity demanded of Kraft Dinner

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