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Suppose That a Consumer's Preferences Are Well Behaved in That

Question 65

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Suppose that a consumer's preferences are well behaved in that properties 4-1 - 4-4 are satisfied and the initial equilibrium consumption bundle consists of 100 units of X and 50 units of Y.If PX increases such that the new equilibrium consumption bundle is 150 units of X and 75 units of Y, then goods X and Y are


A) complements.
B) substitutes.
C) inferior goods.
D) unrelated.

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