4. The total effect of a price change of a commodity is А. Sustitution effect plus price effect B. O Substitution effect plus income effect С. Substitution effect plus demonstration effect D. O Substitution effect minus income effect

4. The total effect of a price change of a commodity is А. Sustitution effect plus price effect B. O Substitution effect plus income effect С. Substitution effect plus demonstration effect D. O Substitution effect minus income effect

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Ans

4. The total effect of a price change
of a commodity is
A. O Sustitution effect plus price effect
B. O Substitution effect plus income
effect
С.
Substitution effect plus
demonstration effect
D. O Substitution effect minus income
effect

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