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The recreational use of opium was popularized by the book Confessions of an Opium Eater,written by __________.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.
Income Effect
The change in consumers' purchasing power and consequently the quantity demanded of a good or service, prompted by a change in real income.
Opportunity Cost
Missing the chance to profit from several alternative options by deciding on one.
Hourly Wage Rate
The amount of money paid for each hour of work, commonly used to compensate employees in many occupations.
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