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After the price of Gibson guitars increased, Tim started buying Fender guitars instead. This is called: Group of answer choices A decrease in the buyer's
After the price of Gibson guitars increased, Tim started buying Fender guitars instead. This is called: Group of answer choices A decrease in the buyer's reservation price. The substitution effect of a price change The income effect of a price change. A decrease in the seller's reservation price
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Business Statistics for Contemporary Decision Making
Authors: Ken Black
6th Edition
978-0470409015, 9780470559062, 470409010, 470559063, 978-0470910184
