question archive The reason the substitution effect works to encourage a consumer to buy less of a product when its price increases is: a
The reason the substitution effect works to encourage a consumer to buy less of a product when its price increases is: a
Subject:EconomicsPrice: Bought3
The reason the substitution effect works to encourage a consumer to buy less of a product when its price increases is:
a.the real income of the consumer has been decreased.
b.other products are now relatively more expensive than they were before.
c.the real income of the consumer has been increased.
d.the product is now relatively more expensive than it was before.
