In General,the Income Effect of an Increase in the Price

question 37

Multiple Choice

In general,the income effect of an increase in the price of a normal good:

• A) will cause the individual to buy more of that good because they have relatively more income.
• B) will cause the individual to buy less of that good because they have relatively less income.
• C) will cause the individual to buy more of that good because they have relatively less income.
• D) will cause the individual to buy less of that good because they have relatively more income.

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