Ascoffeebecomesmoreexpensive,Joestartsdrink
2022-08-19 18:55 微观经济学
As coffee becomes more expensive, Joe starts drinking tea, and therefore quantity demanded for coffee decreases. This is called:
A.the change in equilibrium.
B.the income effect.
C.the substitution effect.
D.a shift in the demand curve.
正确答案:the substitution effect.