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18 Aug 2020
When the price of a product falls for a normal good, the:
A) income and substitution effects will encourage consumers to purchase more of the product.
B) income and substitution effects will encourage consumers to purchase less of the product.
C) substitution effect will encourage consumers to purchase less of the product and the income effect will encourage them to purchase more.
D) substitution effect will encourage consumers to purchase more of the product and the income effect will encourage them to purchase less.
When the price of a product falls for a normal good, the:
A) income and substitution effects will encourage consumers to purchase more of the product.
B) income and substitution effects will encourage consumers to purchase less of the product.
C) substitution effect will encourage consumers to purchase less of the product and the income effect will encourage them to purchase more.
D) substitution effect will encourage consumers to purchase more of the product and the income effect will encourage them to purchase less.
Vaishnavi KanukurtiLv10
11 Sep 2020
