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Demand Question 10/10 v @ End Assignment + Which of the following makes a correct statement about how Veblen goods relate to the underlying principles Elimination Tool @ behind the law of demand? Select one answer A Witha Veblen good, the income effect is positive, while with a normal good it is negative. B Witha Veblen good, the substitution effect is positive, while with a normal good it is negative. With a Veblen good, an increase in income level will shift the demand curve inward as c opposed to outward for a normal good. D Over the same range as a comparable normal good, the quantity demanded decreases as the price increases. E With a Veblen good, the impact of consumer preferences dominates both the substitution and income effects. No answer saved. B Back to Start 'D oct22 8:44 9 6 z 2 o OF8F O0c08