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Bottles of Coca-Cola and equally-sized bottles of Pepsi Cola are perfect substitutes for a consumer, but a bottle of Coke costs 10 cents less than bottles of Pepsi.The income effect of a 15 cent increase in the price of Pepsi will be for the consumer to drink less cola.
Millimeters
A unit of measurement for length that is equal to 0.001 meters.
Meters
The fundamental unit of length in the metric system, equal to 100 centimeters.
Centigrams
A metric unit of mass equal to one hundredth of a gram, often used in science and medicine.
Chemist
A scientist who studies the composition, properties, and reactions of substances to create new compounds or products.
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