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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 45
MICROECONOMICS FUNDAMENTALS
This road map feature helps you tie together material in the part as you travel the Economic Way of Thinking Highway. The following are review questions listed by chapter from the previous part. The key concept in each question is given for emphasis, and each question or set of questions concludes with an interactive game to reinforce the concepts. Visit cengagebrain.com to purchase the MindTap product where you can select a chapter and play the visual causation chain game designed to make learning fun. The correct answers to the multiple choice questions are given in Appendix C.
Key Concept: Substitution effect
Which of the following is the best example of the substitution effect?
A) Joe buys fewer apples and more oranges as the result of an increase in the price of apples.
B) Joe buys more apples when his income increases.
C) Joe buys an apple slicer when the price of apples decreases.
D) Joe buys less sugar as the result of an increase in the price of apples.
Causation Chain Game
Substitution Effect
This road map feature helps you tie together material in the part as you travel the Economic Way of Thinking Highway. The following are review questions listed by chapter from the previous part. The key concept in each question is given for emphasis, and each question or set of questions concludes with an interactive game to reinforce the concepts. Visit cengagebrain.com to purchase the MindTap product where you can select a chapter and play the visual causation chain game designed to make learning fun. The correct answers to the multiple choice questions are given in Appendix C.
Key Concept: Substitution effect
Which of the following is the best example of the substitution effect?
A) Joe buys fewer apples and more oranges as the result of an increase in the price of apples.
B) Joe buys more apples when his income increases.
C) Joe buys an apple slicer when the price of apples decreases.
D) Joe buys less sugar as the result of an increase in the price of apples.
Causation Chain Game
Substitution Effect
Explanation
Verified
Verified
The substitution effect does not take in...
Economics for Today 9th Edition by Irvin Tucker
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