Suppose ramen is a Giffen good and the price of ramen decreases.Then the:
A) substitution effect will cause a decrease in the consumption of ramen.
B) income effect will cause a decrease in the consumption of ramen.
C) income effect will reinforce the substitution effect, and the consumption of ramen will decrease.
D) demand curve for ramen will still be downward-sloping.
Correct Answer:
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