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5. When the ticket price of going to a rock concertincreases to $200, then the typical California teenager willconsume less because many of them earn

5. When the ticket price of going to a rock concertincreases to $200, then the typical California teenager willconsume less because many of them earn the minimum wage of $12.00per hour. This microeconomic reactiondescribes:

A) The costeffect.

B) The inflationaryeffect.

C) The incomeeffect.

D) The substitutioneffect.

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