Elucidate what happens when tastes change

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Reference no: EM1362841

A. Do not try to explain people's tastes, but they do try to explain what happens when tastes change.

B. Do not believe that people's tastes determine demand and therefore they ignore the subject of tastes.

C. Believe that they must be able to explain people's tastes in order to explain what happens when tastes change.

D. Incorporate tastes into economic models only to the extent that tastes determine whether pairs of goods are substitutes or complements.

Reference no: EM1362841

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