Examlex
All of the following are stages of the mentoring relationship except:
Substitution Effect
The change in consumption resulting from a change in the relative prices of goods, leading consumers to substitute one good for another.
Relative Price
The price of one good or service compared to another, usually expressed as a ratio or quotient.
Substitution Effect
The change in consumption patterns due to a shift in the relative prices of goods, leading consumers to substitute one good for another.
Input Price
The cost of resources (labor, materials, etc.) used in the production of goods or services.
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