The Income Effect of a Decrease in the Price of Macaroni

question 223

Multiple Choice

The income effect of a decrease in the price of macaroni and cheese (assume this is an inferior good) results in

• A)a decrease in the demand for macaroni and cheese.
• B)an increase in the quantity of macaroni and cheese demanded.
• C)a decrease in the quantity of macaroni and cheese demanded.
• D)an increase in the demand for macaroni and cheese.

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