Multiple Choice
When the relative price of a good increases,consumers will respond by buying
A) a larger quantity of that good and a larger quantity of substitutes for that good.
B) a larger quantity of that good and a smaller quantity of substitutes for that good.
C) a smaller quantity of that good and a larger quantity of substitutes for that good.
D) a smaller quantity of that good and a smaller quantity of substitutes for that good.
Correct Answer:
Verified
Correct Answer:
Verified
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