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Figure 21-8 -Refer to Figure 21-8.If the Consumer Was Initially at Point

Question 4

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Figure 21-8
Figure 21-8 -Refer to Figure 21-8.If the consumer was initially at point A in the figure,a movement from point B to point C as a result of a decrease in the price of potato chips represents the A) substitution effect. B) income effect. C) budget effect. D) price effect.
-Refer to Figure 21-8.If the consumer was initially at point A in the figure,a movement from point B to point C as a result of a decrease in the price of potato chips represents the


A) substitution effect.
B) income effect.
C) budget effect.
D) price effect.

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