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The Income Effect of an Increase in the Price of Hominy

Question 30

Multiple Choice

The income effect of an increase in the price of hominy grits (an inferior good) is a(n)


A) decrease in the demand for hominy grits
B) decrease in the quantity demanded of hominy grits
C) increase in the demand for hominy grits
D) increase in the quantity demanded of hominy grits
E) new demand curve because everything else is no longer constant

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