The price effect is the effect of a ________ on the quantity of the good ________.
A) decrease in the price; demanded
B) change in the price; supplied
C) change in price and income; consumed
D) change in the price; consumed

Question

Quizplus · Accepted Answer

The price effect refers to the impact that a change in the price of a good has on the quantity consumed of that good.

The Price Effect Is the Effect of a ________ on the Quantity