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Ryanteck Ryanteck
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7 years ago
Suppose a 10% increase in the price of steak reduces the consumption of steak by 30%. Such a price rise will induce households to spend
A) more of their income on steak.
B) the same amount on steak as before.
C) less of their income on steak.
D) more on products that are complementary with steak.
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Akshtsaklani21Akshtsaklani21
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7 years ago
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7 years ago
Correct Slight Smile TY
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