Multiple Choice
Assume that a college student purchases only coffee and almonds.What will the substitution effect associated with a decrease in the price of almonds result in
A) an increase in the consumption of coffee only
B) a decrease in the consumption of coffee only
C) an increase in the consumption of almonds, and a decrease in the consumption of coffee
D) a decrease in the consumption of almonds, and an increase in the consumption of coffee
Correct Answer:
Verified
Correct Answer:
Verified
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