Consider the following scenario:
X is an inferior good. What would happen to the price of X if...
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Business, 21.03.2020 03:53 makiyabattles
Consider the following scenario:
X is an inferior good. What would happen to the price of X if the cost of production of X increased at the same time as the consumers incomes (increased).
Options:
O the price would definitely decrease
O the price would definitely increase
O the effect on the price is be unknown because we don't know which shift dominates.
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Answers: 1
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