Ask Question
23 January, 13:12

What phrase describes the substitution effect

+4
Answers (1)
  1. 23 January, 13:16
    0
    The effect that a rise in a specific product has on the consumers election. This infers that if the price of certain product rises and the income remains constant, the consumer will choose to buy a similar but cheaper product.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What phrase describes the substitution effect ...” in 📗 History if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers