Business, 12.04.2021 21:40, SassyBanana

When the price of a product falls for a normal good, the a. substitution effect will encourage consumers to purchase more of the product, and the income effect will encourage them to purchase less.
b. income and substitution effects will encourage consumers to purchase more of the product.
c. income and substitution effects will encourage consumers to purchase less of the product.
d. substitution effect will encourage consumers to purchase less of the product, and the income effect will encourage them to purchase more.

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When the price of a product falls for a normal good, the a. substitution effect will encourage co...