Figure 21-21 -Refer to Figure 21-21.If the Consumer Were Initially at Point

question 445

Multiple Choice

Figure 21-21

-Refer to Figure 21-21.If the consumer were initially at point A in the figure,a movement from point B to point C as a result of a decrease in the price of potato chips represents the

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