Gail Operates on a Tight Budget

question 93

Multiple Choice

Gail operates on a tight budget. She buys store or generic brands to save money. Recently, Gail was given a substantial pay raise. Now, she has altered her shopping patterns and regularly buys more expensive, name-brand goods. This is an example of

• A)the substitution effect.
• B)the price inelasticity coefficient.
• C)the income effect.
• D)the target return effect.
• E)cross-price elasticity.

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