The ______ is the change in consumption caused by a change in purchasing power from a price change.
A) budget constraint
B) indifference curve
C) income effect
D) substitution effect

Name: The ______ is the change in consumption caused by a change in purchasing power from a price change. A) budget constraint B) indifference curve C) income effect D) substitution effect
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Question

Quizplus · Accepted Answer

The income effect is the change in consumption caused by the change in purchasing power resulting from a price change.

The ______ Is the Change in Consumption Caused by a Change