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Question
If the price and quantity for an inferior good, Good X, is $8 and 6 units at the original equilibrium, what is one possibility for the new equilibrium of Good X if we see income increase and all other factors stay constant?
a. $10 and 4 units
b. $10 and 8 units
c. $6 and 4 units
d. $6 and 8 units
e. $10 and 2 units
Answer
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Related questions
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