Figure 21-13 -Refer to Figure 21-13. When the Price of X Is

question 178

Multiple Choice

Figure 21-13
-Refer to Figure 21-13. When the price of X is $40, the price of Y is $10, and the consumer's income is $80, the consumer's optimal choice is C. Then the price of X decreases to $10. The substitution effect can be illustrated as the movement from

• A)C to E.
• B)C to D.
• C)D to E.
• D)E to C.

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Definitions:

Disconfirm The Claim

The act of providing evidence or reasoning that challenges or refutes a particular assertion or belief.

Consistent With The Facts

A statement or claim that aligns with established evidence or reality, lacking contradictions.

Necessarily True

A statement or proposition that cannot be false under any circumstances.

Probably True

A statement or belief that is likely to be accurate or correct, based on the available evidence.