Question: Which of the following is incorrect? lf utility function is quasi-linear, one good does not have any income effect Substitution effect and income effect are

Which of the following is incorrect? lf utility function is quasi-linear, one good does not have any income effect Substitution effect and income effect are in the opposite direction if the good is inferior A Giffen good is inferior good If consumer consumes two goods, both of them can be inferior goods

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