Microecon

Question 3 1.5 pts Consider a consumer with well-behaved and strictly convex preferences in an economy with just two goods, goods A and B. The price of good A falls. Which statement is true? The substitution effect increases the quantity the consumer purchases of good A. O The law of demand will always hold, given well-behaved preferences. The income and substitution effects must reinforce one another. O The income effect always increases the quantity demanded of good A, but not necessarily good B. ONone of the other answers are correct