Multiple Choice
Following a decrease in the price of a good or service,an individual will purchase more of the now less expensive good and less of other more expensive goods.This is known as the _____ effect.
A) income
B) endowment
C) substitution
D) price
E) scale
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q6: Other things equal,if there is a price
Q7: _ is the change in total utility
Q8: The table given below records the total
Q15: Total utility is maximized when _.<br>A)marginal utility
Q35: The table given below depicts the total
Q46: The below table shows the average utility
Q48: The below table shows the average utility
Q63: The below figure shows the various combinations
Q118: The below figure shows the various combinations
Q132: The table below shows the total utility