Examlex
Which was a result of the 1861 attack on Fort Sumter?
Substitution Effect
The change in consumption patterns due to a change in relative prices, holding the consumer's utility level constant.
Income Effect
The change in an individual's consumption choices resulting from a change in real income, due to changes in price.
Optimal Consumption Bundle
The mix of products and services that optimizes a buyer's satisfaction within their spending limit.
Cappuccino
A coffee drink made with espresso, hot milk, and steamed milk foam, often served with a sprinkle of cocoa powder or cinnamon on top.
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