Multiple Choice
The substitution effect is
A) the change in quantity demanded that occurs when one good is substituted for another.
B) the change in quantity demanded that occurs as a result of a change in absolute prices,with real income held constant.
C) the change in quantity demanded that occurs as a result of a change in relative prices with money income held constant.
D) the change in quantity demanded that occurs as a result of a change in relative prices with real income held constant.
E) the change in the relative prices of two or more goods.
Correct Answer:

Verified
Correct Answer:
Verified
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