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Business, 19.11.2020 19:00 infoneetusinghoyg22o

As price falls along a downward sloping ordinary demand curve (in the x1, p1 plane), consumer utility will: a. rise if the income effect is LESS than the substitution effect. b. fall if the income effect is GREATER than the substitution effect. c. rise if the income effect is GREATER than the substitution effect. d. rise if the income effect is LESS than the substitution effect.

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As price falls along a downward sloping ordinary demand curve (in the x1, p1 plane), consumer utilit...
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