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Social Studies, 19.10.2019 15:30 taylenlane4213

What is the income effect?

a when consumers react to an increase in a good’s price by consuming less of that good and more of other goods

b a graphic representation of a demand schedule

c the desire to own something and the ability to pay for it

d the change in consumption resulting from a change in real income

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What is the income effect?

a when consumers react to an increase in a good’s price by c...
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