Which of the following is true concerning the income effect of a decre

Which of the following is true concerning the income effect of a decrease in price?

A) It will lead to an increase in consumption only for a normal good.
B) It always will lead to an increase in consumption.
C) It will lead to an increase in consumption only for an inferior good.
D) It will lead to an increase in consumption only for a Giffen good.

ANSWER

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