Suppose the Price of Beef Declines by $0

Multiple Choice

Suppose the price of beef declines by $0.50 per pound at the supermarket.Consumers of beef immediately increase their purchases of beef.This illustrates:

A) the fact that beef is an inferior good.
B) the cross-elasticity effect of a price decrease.
C) the substitution effect of a price decrease.
D) the fact that beef is an economic bad.
E) the income effect of rise in price.