Use the following to answer questions 29-30:
Figure 5.16
-(Figure 5.16) The substitution effect of the price increase causes consumption of baseball hats to:

Question

Use the following to answer questions 29-30:
Figure 5.16 
-(Figure 5.16) The substitution effect of the price increase causes consumption of baseball hats to:

Quizplus · Accepted Answer

The substitution effect of the price increase causes consumers to substitute away from baseball hats to other goods, such as beanies or visors. This will cause consumption of baseball hats to decrease.

Use the Following to Answer Questions 29-30