A consumer consumption bundle contains good X and Y. Suppose the price of good X goes up and a consumer goes on consuming the exact same amount of X as before. Check the correct statement(s). A) Both...


A consumer consumption bundle contains good X and Y. Suppose the price of good X goes up and a consumer goes on consuming the exact same amount of X as before. Check the correct statement(s).
A) Both X and Y are inferior.


B) X is an inferior good.
C) In the special case where X is Leisure, and Y is "all other goods", X is an inferior good.
D) The consumption of Y decreases.
E) It is impossible that the consumption of X remains unchanged when the price of × goes up.
F) The substitution effect is negative



Jun 08, 2022
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