Question
The substitution effect is A. the change in the amount of the good consumed holding the level of income constant. B. the change in the
The substitution effect is
A. the change in the amount of the good consumed holding the level of income constant.
B. the change in the amount of the good consumed as the price of the good changes holding income constant.
C. the change in the amount of the good consumed as the price of the good changes holding utility constant.
D. the change in the amount of the good consumed holding relative prices constant and changing the level of income.
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Price Theory and Applications
Authors: Steven Landsburg
9th edition
1285423526, 978-1285947877, 1285947878, 978-1285423524
