The following statement is WRONG substitution effect states that when price of an available substitute decreases, consumers will buy more of the relatively cheaper good, and less of the relatively more expensive good. All forms of cost-sharing is price discrimination demand curve is never upward sloping All forms of price discrimination is cost-sharing

The following statement is WRONG substitution effect states that when price of an available substitute decreases, consumers will buy more of the relatively cheaper good, and less of the relatively more expensive good. All forms of cost-sharing is price discrimination demand curve is never upward sloping All forms of price discrimination is cost-sharing

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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