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Ierofanga [76]
4 years ago
9

when the price of a good rises, consumers will stop buying the more expensive goods and switch to substitutes. this behavior is

explained by a. income effect. b. substitution effect. c. purchasing power effect. d. the demand effect.
Business
1 answer:
ad-work [718]4 years ago
3 0
Purchasing power effect

NOTE THIS!!
ANY EFFECT OTHER THAN PURCHASING EFFECT ARE AFFECTED BY NON PRICE FACTORS.
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