For goods on which a relatively small portion of income is expended, _____

a. income effects will be small relative to substitution effects
b. income effects will be large relative to substitution effects
c. income effects will be about the same as substitution effects
d. there will be no income effects.


a

Economics

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What will be an ideal response?

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A. t3. B. t1. C. t1 and t2. D. None of the answers is correct.

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