The change in the quantity demanded of a good resulting from a change in relative price with the level of satisfaction held constant is called the ________ effect.

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The change in quantity demanded resulting from a change in relative price is called the substitution effect. This is because when the price of one good rises relative to another, consumers will substitute away from the more expensive good and towards the cheaper one. This effect is holding the level of satisfaction constant, meaning that we are assuming the consumer's utility or well-being is unchanged by the price change.

The Change in the Quantity Demanded of a Good Resulting