The substitution effect
A) is always larger than the price effect.
B) always decreases purchases of a good as the price of a good rises.
C) increases purchases of the good as the price rises if the good is a normal good.
D) is always smaller than the income effect.
Question 2
If Tom's total utility from watching one more minute of television increases but the increase for each additional minute is smaller than the previous minute, he has diminishing marginal utility.
Indicate whether the statement is true or false
The greenhouse effect.
Effect of predator on prey populations.
The Flynn Effect
How to perform the substitution rule with integrals (Part 1)
The Amounts of the Different Minerals in Your Body The major minerals are present in larger amounts
Substitution, Linear Systems