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lstar1993 lstar1993
wrote...
Posts: 359
A week ago

Question 1.

Consider a downward-sloping demand curve. When the price of an inferior good increases, the income and substitution effects



work in the same direction to increase quantity demanded.



work in the same direction to decrease quantity demanded.



work in opposite directions and quantity demanded increases.



work in opposite directions and quantity demanded decreases.



Question 2.

Consider a downward-sloping demand curve. When the price of an inferior good decreases, the income and substitution effects



work in the same direction to increase quantity demanded.



work in the same direction to decrease quantity demanded.



work in opposite directions and quantity demanded increases.



work in opposite directions and quantity demanded decreases.

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Edition: 1st
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n00835996n00835996
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Posts: 273
Rep: 7 0
A week ago
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Answer 1

work in opposite directions and quantity demanded decreases.



Answer 2

work in opposite directions and quantity demanded increases.

1

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wrote...
A week ago
Exactly what I needed for my project, TYSM
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