Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 21SQ
Related questions
Question
![Normal goods cannot be Giffen goods because their income effect is smaller than their substitution effect.
True
False](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5083ae6f-a3b7-4c62-abc9-dbfa2a2ced3f%2F5cb1d4ba-93be-405d-b80f-da00aa2ba042%2F71eyeq_processed.png&w=3840&q=75)
Transcribed Image Text:Normal goods cannot be Giffen goods because their income effect is smaller than their substitution effect.
True
False
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