Your Indifference Curves for Good X (Horizontal Axis) and Good

Multiple Choice

Your indifference curves for good X (horizontal axis) and good Y (vertical axis) are vertical lines because you do not gain any satisfaction from consumption of Y. As the price of X declines, the change in consumption of X is entirely composed of the:

A) income effect.
B) substitution effect.
C) Giffen effect.
D) independent good effect.