For which of the following goods is a price increase likely to lead to a substantial income

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For which of the following goods is a price increase likely to lead to a substantial income (as well as substitution) effect?
a) Salt
b) Housing
c) Theater tickets
d) Food

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Microeconomics

ISBN: 978-0132857123

8th edition

Authors: Robert Pindyck, Daniel Rubinfeld

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Question Posted: Dec 22, 2015 02:16 AM

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For which of the following goods is a price increase likely to lead to a substantial income

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a Small income effect small substitution effect The amount of income that is spent on salt is very s...View the full answer

Microeconomics

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