Suppose That as the Price of Apples Rises, People Switch

question 164

Multiple Choice

Suppose that as the price of apples rises, people switch from eating apples to eating oranges. This is known as:

• A)the normal effect of a price change.
• B)the income effect of a price change.
• C)a decrease in the demand for apples.
• D)the substitution effect of a price change.

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Definitions:

Tennis Racquet

A sports equipment specifically designed for the game of tennis, consisting of a handled frame with an open hoop across which a network of strings or catgut is stretched tightly.

Economic Need

A requirement for something essential related to the well-being or financial stability of an individual or society.

Audio Playback

The reproduction of recorded sound or music through speakers or headphones.