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The Substitution Effect Is

Question 133

Multiple Choice

The substitution effect is


A) the change in quantity demanded that occurs as a result of a change in absolute prices,with real income held constant.
B) the change in quantity demanded that occurs as a result of a change in relative prices with money income held constant.
C) the change in quantity demanded that occurs as a result of a change in relative prices with real income held constant.
D) the change in quantity demanded that occurs when one good is substituted for another.
E) the change in the relative prices of two or more goods.

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