Substitution Effect is:

Related MCQs

• If negative income effect is greater than positive substitution effect : price effect will be
• If negative income effect is greater than positive substitution effect : the product will be
• If negative income effect is less than positive substitution effect : the product will be
• If income effect works in the same direction to that of substitution effect, the good is a:
• If income effect works in the direction opposite to that of substitution effect, the good is not:
• According to Hicks substitution effect is
• The substitution effect for a commodity is
• The income effect for a commodity is
• Price effect is
• Which method is used by Hicks to eliminate the income effect when price of a product is changed