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Rob consumes two goods, x and y. He has an allowance of $50 per week and is not endowed with either of the goods. If the price of good x increases and his substitution and income effects change demand in opposite directions.
a. good x must be a Giffen good.
b. good x must be an inferior good.
c. WARP is violated.
d. good x must be a normal good.
e. There is not enough information to judge whether good x is a normal or inferior good.
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Rob consumes two goods, x and y. He has an allowance of $50 per week and is not endowed with either...
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