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Ingy_ Ingy_
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4 years ago
The change in the quantity consumed that is caused by a change in the relative price of a good, with real income held constant, refers to the:

▸ equimarginal rule.

▸ law of diminishing marginal utility.

▸ income effect.

▸ substitution effect.
Textbook 
Microeconomics: Principles, Applications, and Tools

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
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swolfe15swolfe15
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Ingy_ Author
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4 years ago
this is exactly what I needed
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You make an excellent tutor!
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I appreciate what you did here, answered it right Smiling Face with Open Mouth
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