economics

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When the price of summer tank tops falls and you buy more because they are relatively less expensive, this is called:

  • economics -

    The Law of Demand.

  • economics -

    51) When the price of summer tank tops falls and you buy more them because
    they are relatively less expensive, this is called
    a. the elasticity effect.
    b. the deadweight loss effect.
    c. the income effect.
    d. the substitution effect.

  • economics -

    Substitution effect of a price change

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