The reason the substitution effect works to encourage a consumer to buy less of a product when its price increases is: a. the product is now relatively more expensive than it was before.  b. other products are now relatively more expensive than they were before. c. the real income of the consumer has been increased. d. the real income of the consumer has been decreased

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A:

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Q: Q16 The substitution effect of a price change leads consumers to _____ their demand for goods whose…

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A: