Social Studies, 12.10.2019 04:10 darius7967
Which of the following best describes the income effect of a price increase? a. the tuition at the public university increases, so michelle attends a community college. b. the price of bacon increases, so michelle buys more sausage. c. the price of corn chips increases, so michelle buys potato chips. d. michelle’s apartment rent increases, so she moves to a smaller apartment. e. michelle's apartment rent increases, so she cancels her subscription to a monthly magazine.
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