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The income effect of a price change a. is always positive. b. is-(Answered)

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Question

The income effect of a price change

a. is always positive.

b. is always negative.

c. may be positive or negative.

d. is associated with a change in nominal income.

e. is caused by changes in consumer tastes.

 

Paper#9209118 | Written in 27-Jul-2016

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