Statement I: the Substitution Effect States That If the Price

Multiple Choice

Statement I: The substitution effect states that if the price of a resource rises,other resources will be substituted for it.
Statement II: The concept of margin is central to economic analysis.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.