If two goods are perfect complements, then the change in demand that occurs from a change in the price one of the goods will be: а. Entirely due to the income effect. b. Entirely due to the substitution effect. C. Due to a mixture of the substitution effect and income effect d. Impossible to say without more information.
If two goods are perfect complements, then the change in demand that occurs from a change in the price one of the goods will be: а. Entirely due to the income effect. b. Entirely due to the substitution effect. C. Due to a mixture of the substitution effect and income effect d. Impossible to say without more information.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 13SQ
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Transcribed Image Text:If two goods are perfect complements, then the change in demand that occurs from a change in the price of
one of the goods will be:
а.
Entirely due to the income effect.
b. Entirely due to the substitution effect.
С.
Due to a mixture of the substitution effect and income effect
d.
Impossible to say without more information.
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