15 18 25 The above figure shows Bobby's indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from a decrease in the rice of soda. What change in quantity best represents his substitution effect? Soda A. 10 B. 3 C. 15 D. 7
15 18 25 The above figure shows Bobby's indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from a decrease in the rice of soda. What change in quantity best represents his substitution effect? Soda A. 10 B. 3 C. 15 D. 7
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:A. 10
Juice
15 18 25
The above figure shows Bobby's indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from a decrease in the
price of soda. What change in quantity best represents his substitution effect?
OB. 3
O C. 15
D. 7
empts
Soda
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