Multiple Choice
Assume that a college student purchases only coffee and Snickers bars.The substitution effect associated with a decrease in the price of a Snickers bar will 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 Snickers bars and a decrease in the consumption of coffee.
D) a decrease in the consumption of Snickers bars and an increase in the consumption of coffee.
Correct Answer:
Verified
Correct Answer:
Verified
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