The Substitution Effect of a Price Change Is Depicted by a

question 229

Multiple Choice

The substitution effect of a price change is depicted by a

• A)movement along the budget constraint holding satisfaction constant.
• B)shift in the budget constraint at the old prices.
• C)movement along the consumer's new indifference curve at the new prices.
• D)movement along the original indifference curve to the point where the marginal rate of substitution equals the price ratio for the new set of prices.

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