Reference: Ref 5-11 (Figure 5.11) What is the size of the substitution effect as
ID: 1094235 • Letter: R
Question
Reference: Ref 5-11
(Figure 5.11) What is the size of the substitution effect associated with the increase in the price of football tickets?
The number of tickets purchased decreases from 6 to 3.
The number of tickets purchased decreases from 4 to 3.
The number of tickets purchased decreases from 20 to 8.
The number of tickets purchased decreases from 6 to 4.
A.The number of tickets purchased decreases from 6 to 3.
B.The number of tickets purchased decreases from 4 to 3.
C.The number of tickets purchased decreases from 20 to 8.
D.The number of tickets purchased decreases from 6 to 4.
Figure 5.11 Reference: Ref 5-11 (Figure 5.11) What is the size of the substitution effect associated with the increase in the price of football tickets? A. The number of tickets purchased decreases from 6 to 3. B. The number of tickets purchased decreases from 4 to 3. C. The number of tickets purchased decreases from 20 to 8. D. The number of tickets purchased decreases from 6 to 4.Explanation / Answer
D
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