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The Substitution Effect Is the Effect of a Change in ________

Question 42

Multiple Choice

The substitution effect is the effect of a change in ________ on ________.The income effect is the effect of a change in ________ on ________.


A) income;quantity bought of a substitute;income;quantity bought
B) income;consumption;price;quantity bought
C) price;quantity bought;income;quantity bought
D) the price of a substitute;quantity bought;income;the number of labour hours
E) none of the above

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