The size and direction of the income effect depend on all of the following EXCEPT:
A) the amount of the good (X) the consumer buys.
B) the change in the quantity of X when purchasing power is transformed (X(PX, PY,I) /I) .
C) the change in the consumption of X as the price of X changes, holding utility constant.
D) whether the good is normal or inferior.
Correct Answer:
Verified
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