Economics · Theory of Consumer Behaviour
The change in demand for a good or service caused by a change in a consumer's purchasing power resulting from a change in real income is called the ______.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1income effect✓
- 2budget set
- 3marginal product
- 4substitution effect
Correct answer
income effect
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