The Income Effect Is

question 90

Multiple Choice

The income effect is:

• A)the change in the amount of the good consumed holding the level of income constant.
• B)the change in the amount of the good consumed as the price of the good changes holding income constant.
• C)the change in the amount of the good consumed as the price of the good changes holding utility constant.
• D)the change in the amount of the good consumed as the consumer's utility changes holding the price of the good constant.

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Definitions:

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