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Krazil Krazil
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2 months ago

Which of the following statements represents a correct and sequentially accurate economic explanation?



Good X is an inferior good and good Y is a substitute for X. Income rises, the demand for X falls, the price of X falls, and the demand for Y rises.



Good X is an inferior good and good Y is a substitute for X. Income rises, the demand for X falls, the price of X falls, and the demand for Y falls.



Good X is an inferior good and good Y is a substitute for X. Income falls, the demand for X rises, the price of X rises, and the demand for Y falls.



Good X is an inferior good and good Y is a substitute for X. Income rises, the quantity demanded of X rises, the price of X rises, and the demand for Y falls.



none of the above

Textbook 
Economics

Economics


Edition: 12th
Author:
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xuelixueli
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2 months ago
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Good X is an inferior good and good Y is a substitute for X. Income rises, the demand for X falls, the price of X falls, and the demand for Y falls.



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Krazil Author
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Thanks for your help!!
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