Economics · Consumer Theory
For inferior goods, the substitution effect of a price decrease and the income effect of the same price decrease:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Work in the same direction and increase the aggregate consumption of the good
- 2Work in opposite directions and decrease the aggregate consumption of the good
- 3Work in the same direction and decrease the aggregate consumption of the good
- 4Work in opposite directions✓
Correct answer
Work in opposite directions
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