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Here are the best resources to pass ECONOMICS 203 (ECONOMICS 203). Find ECONOMICS 203 (ECONOMICS 203) study guides, notes, assignments, and much more.
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ECONOMICS 203 Quiz 3_ECON 203 PRINCIPLES OF ECONOMETHICS Questions and Answers
Exam (elaborations) • 9
pages
• 2021
Question 1		1 / 1 point

The ________________ arises when a price changes because consumers have an incentive to consume less of the good with a relatively higher price and more of the good with a relatively lower price.

		a) 	preferences effect



 		b) 	substitution effect



		c) 	income effect



		d) 	backward-bending supply curve



Question 2		1 / 1 point

Marginal utility can:

		a) 	increase positively, but not negatively



		b) 	be positive or negative, but not zero



 		c) 	...
ECONOMICS 203 Quiz 3_ECON 203 PRINCIPLES OF ECONOMETHICS Questions and Answers
Last document update:
ago
Question 1		1 / 1 point

The ________________ arises when a price changes because consumers have an incentive to consume less of the good with a relatively higher price and more of the good with a relatively lower price.

		a) 	preferences effect



 		b) 	substitution effect



		c) 	income effect



		d) 	backward-bending supply curve



Question 2		1 / 1 point

Marginal utility can:

		a) 	increase positively, but not negatively



		b) 	be positive or negative, but not zero



 		c) 	...