The Substitution Effect of a Price Decrease

Multiple Choice

The substitution effect of a price decrease:

A) allows the consumer to obtain a higher level of well-being.
B) reflects an increase in real income.
C) is a movement along the indifference curve to consume more of the lower priced good and less of the higher priced good.
D) is a shift of the indifference curve indicating higher consumption of both the goods.