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Business, 05.08.2021 04:10 AlmightyThadd

Use the following two statements in answering this question: I. For all Giffen goods the substitution effect is larger than the income effect. II. For all inferior goods the substitution effect is larger than the income effect. Group of answer choices I and II are false. I is true, and II is false. I is false, and II is true. I and II are true.

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