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monitta
4 years ago
11

When the price of a good rises, consumers buy a smaller quantity because of the ________ effect and the ________ effect?

Business
1 answer:
VladimirAG [237]4 years ago
4 0
When the price of a good rises, consumers buy a smaller quantity because of the substitution effect and the income effect.  A change in the relative prices of goods results in change in consumption of that goods and that is denoted as the substitution effect. T<span>he change in purchasing power on the other hand which also result in change in consumption is referred to as the income effect.</span>
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Revenue  12000000   11000000    -1000000      0.34            -340000

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The correct answer to this open question is the following.

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When you establish Integrated Marketing Communications in your company, what you are doing is to make sure that all types of communications are joined together. Working together, communications and messages can have more power to deliver a strong message to your clients. That is why Tara has hired an IMC Director, to establish a consistent and positive communication message that strengthens the brand.

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HURRY HURRY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
LenaWriter [7]
It's absolutely True !!
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Hope this helps!
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