When the Price of an Item Increases, Buyers Tend to Purchase

question 91

Multiple Choice

When the price of an item increases, buyers tend to purchase less of that item:

• A)solely because of the substitution effect.
• B)solely because of the income effect.
• C)because of both the substitution and the income effects.
• D)only if the substitution effect and the income effect do not cancel out each other.

---

Definitions:

Continuum of Ability

A concept acknowledging the vast range of human abilities, emphasizing that individuals' capabilities and strengths vary widely and should not be viewed in a binary or fixed manner.

Physical

Relates to the body as opposed to the mind; involving bodily movement or activity.

Neuro-oncologist

A medical specialist focused on diagnosing and treating cancers of the brain and nervous system.

Neurosurgeon

A medical specialist who performs surgery on the brain, spinal cord, and other parts of the nervous system.