Suppose a Rise of 8 Percent in the Price of Bison

question 140

Multiple Choice

Suppose a rise of 8 percent in the price of bison meat in Saskatchewan reduces the consumption of bison meat by 24 percent. Such a price rise will induce consumers to spend

• A)more of their income on bison.
• B)the same amount of their income on bison as before.
• C)less of their income on bison.
• D)more on products that are complements of bison.
• E)zero dollars on bison meat.

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