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Suppose the Price of Good X Falls and the Consumption

Question 165

Multiple Choice

Suppose the price of good X falls and the consumption of good X increases. From this we can infer that X is a(n) (i) normal good.
(ii) inferior good.
(iii) Giffen good.


A) (i) only
B) (i) or (ii) only
C) (iii) only
D) (ii) or (iii) only

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