Use the following to answer questions 18-19:
Figure 5.11
-(Figure 5.11) When the price of football tickets increases, the substitution effect decreases the number of tickets bought from:

Question

Use the following to answer questions 18-19:
Figure 5.11 
-(Figure 5.11) When the price of football tickets increases, the substitution effect decreases the number of tickets bought from:

Quizplus · Accepted Answer

The substitution effect is when consumers switch to a substitute good when the price of the original good increases. In this case, the substitution effect causes people to buy fewer football tickets and switch to a different source of entertainment. The graph shows that when the price of tickets increases from $10 to $20, the quantity demanded decreases from 6 to 4, indicating that the substitution effect caused a decrease in the number of tickets bought from 6 to 4. Therefore, the best choice is C.

Use the Following to Answer Questions 18-19