Question

what is subsitution effect?​

Answer 1

Answer:

here is ur answer

Explanation:

1]it is a effect of change in income on purchase or consumption of a good.

2]substitution effect means the change in the purchases of a good as a consequence of a change in relative prices alone, real income remaining constant.

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Answer 2

Answer:

in economics and particularly in consumer choice theory, the substitution effect is one component of the effect of achange in a price of good upon the amount of that good demanded by a consumer , other being the income effect