Esteban receives some utility from consuming a bottle of store-brand soda (an inferior good) but would much rather purchase a name-brand soda (a normal good). Suppose the price of a bottle of store-brand soda increases and the quantity that Esteban purchases increases. Assume that a bottle of store-brand soda is not a Giffen good. Which effect causes Esteban's quantity demanded of a bottle of store-brand soda to decrease? income effect framing effect substitution effect marginal effect Which effect causes Esteban's quantity demanded of a bottle of store-brand soda to increase? framing effect substitution effect income effect marginal effect
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Business, 22.06.2019 06:20, isaiahcannon6158
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