Which Effect of a Price Change Moves the Consumer Along

question 34

Multiple Choice

Which effect of a price change moves the consumer along the same indifference curve to a point with a new marginal rate of substitution?

• A)the budget effect
• B)the preference effect
• C)the substitution effect
• D)the income effect

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Definitions:

Analgesia

The absence of pain in response to stimulation that would normally be painful, often achieved through the administration of drugs.

Migraine Headache

A type of headache characterized by intense, throbbing pain, often accompanied by nausea, vomiting, and sensitivity to light and sound.

School-age Child

Refers to children typically aged 6 to 12 years, who are attending elementary or primary school.

Recurrent

Happening repeatedly or periodically.