Graph 22-7

-Refer to Graph 22-7. If the consumer is currently at point B on the graph shown, a change to point C as a result of a decrease in the price of potato chips would show the:
A) price effect
B) budget effect
C) substitution effect
D) income effect

Question

Graph 22-7
 
-Refer to Graph 22-7. If the consumer is currently at point B on the graph shown, a change to point C as a result of a decrease in the price of potato chips would show the:
A) price effect 
B) budget effect 
C) substitution effect 
D) income effect

Quizplus · Accepted Answer

The Answer of Graph 22-7
 
-Refer to Graph 22-7. If the consumer is currently at point B on the graph shown, a change to point C as a result of a decrease in the price of potato chips would show the:
A) price effect 
B) budget effect 
C) substitution effect 
D) income effect

Graph 22-7 -Refer to Graph 22-7. If the Consumer Is Currently at Consumer