Economists Robert Jensen and Nolan Miller reasoned that to be a Giffen good, with an income effect larger than its substitution effect, a good must be ________ and make up a ________ portion of a consumer's budget
A) an inferior good; very small B) a normal good; very large
C) an inferior good; very large D) a normal good; very small
C
Economics
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What will be an ideal response?
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What will be an ideal response?
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