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Chapter 7 Supply and Demand Flashcards | StudBud
Chapter 7 Supply and Demand
1 / 19
According to substitution effect, if 2 items satisfy the same need and the price of one rises
A
people will buy more of the lower-priced item
B
people will buy something else
C
the demand will go up
D
people will buy more of the higher-priced item
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