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Economists Robert Jensen and Nolan Miller Reasoned That to Be

Question 265

Multiple Choice

Economists Robert Jensen and Nolan Miller reasoned that to be a Giffen good, with an income effect larger than its substitution effect, a good must be ________ and make up a ________ portion of a consumer's budget.


A) a normal good; very small
B) an inferior good; very small
C) a normal good; very large
D) an inferior good; very large

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