Examlex
Although Principal Morris is only slightly irritated with Jamie,the class clown,she expresses anger at Jamie's behavior.Which display rule is Principal Morris using?
Substitution Effect
The economic principle that as prices rise, consumers will replace more expensive items with less costly alternatives.
Income Effect
The impact that changes in either personal or economic income have on how much of a good or service is sought after.
Quantity of Labor
The total hours of work or number of workers employed by a firm or within an economy, which can influence production output levels.
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute away from more expensive items.
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