Multiple Choice
If the price of prime rib falls,the income effect due to the price change will cause
A) an increase in the demand for prime rib.
B) an increase in the demand for flank steak,a substitute for prime rib.
C) an increase in the quantity of prime rib demanded.
D) an increase in the quantity of prime rib supplied.
Correct Answer:
Verified
Correct Answer:
Verified
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