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Varvara68 [4.7K]
3 years ago
15

When a consumer chooses to purchase one item over another because it is cheaper, this is known as the:

Social Studies
1 answer:
Anna35 [415]3 years ago
7 0
<span>Substitution Effect, The idea that as prices rise (or incomes decrease) consumers will replace more expensive items with less costly alternatives</span>
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