Multiple Choice
As a result of the superb economics essay that you wrote during this quarter,you win the Adam Smith prize of $100.The receipt of these funds would be an example of
A) the substitution effect being stronger than the income effect.
B) the income effect being stronger than the substitution effect.
C) a pure income effect.
D) a pure substitution effect.
Correct Answer:
Verified
Correct Answer:
Verified
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