Answered: Which of the following is incorrect? O…

Which of the following is incorrect? O Income effect can be zero If consumer consumes two goods, both of them can be normal goods. OA giffen good can be a normal good Substitution effect can be zero

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Which of the following is incorrect?
Income effect can be zero
If consumer consumes two goods, both of them can be normal goods.
A giffen good can be a normal good
Substitution effect can be zero

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