The Effect of a Change in Price on the Quantity

question 60

Multiple Choice

The effect of a change in price on the quantity bought, keeping the consumer on the same indifference curve, is called the

• A) price effect.
• B) substitution effect.
• C) income effect.
• D) real effect.

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Definitions:

Waistlines

The measurement around the narrowest part of the waist, often used as an indicator of health and fitness.

Portion Sizes

The amount of a particular food that is served to one person, especially in relation to controlling or altering dietary habits.

Body Mass Index

Body Mass Index (BMI) is a numerical computation that assesses a person's body weight in relation to their height, indicating if an individual has a healthy body weight.

Carbohydrates

Organic compounds composed of carbon, hydrogen, and oxygen, often serving as a major source of energy in the diet.