Steve went to his favorite hamburger restaurant with $3, expecting to buy a $2 hamburger and a $1 soda. when he arrived he discovered that hamburgers were on sale for $1, so steve bought two hamburgers and a soda. steve's response to the decrease in the price of hamburgers is best explained by:
a. the substitution effect.
b. the income effect.
c. the price effect.
d. a rightward shift in the demand curve for hamburgers.
+3
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Steve went to his favorite hamburger restaurant with $3, expecting to buy a $2 hamburger and a $1 soda. when he arrived he discovered that ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » Steve went to his favorite hamburger restaurant with $3, expecting to buy a $2 hamburger and a $1 soda. when he arrived he discovered that hamburgers were on sale for $1, so steve bought two hamburgers and a soda.