When the Price of Orange Juice Increases, Consumers May Switch

question 84

Multiple Choice

When the price of orange juice increases, consumers may switch to apple juice or tomato juice. What is this switch a result of?

• A) the complement effect
• B) the price effect
• C) the substitution effect
• D) the income effect

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Definitions:

Glomerular Capsule

Part of the nephron in the kidney, a cup-like sac surrounding the glomerulus, which filters blood to form urine.

Blood Plasma

The liquid component of blood that carries cells and proteins throughout the body.

Acid-Base Balance

The homeostatic regulation of the pH levels in bodily fluids, crucial for maintaining the proper functioning of various enzymes and metabolic processes.

Homeostasis

Maintenance of normal internal conditions in a cell or an organism by means of self-regulating mechanisms.