177k views
0 votes
You can spend $5 for lunch and you would like to have two double cheeseburgers. When you get to the restaurant, you find out the price for double cheeseburger has increased from $2.50 to $2.99. You decide to have just one double cheeseburger for lunch. This is best described as a(n):

A. substitution effect.
B. income effect.
C. buyer's reservation price effect.
D. seller's reservation price effect.

User Zeikman
by
8.8k points

1 Answer

2 votes

Answer:

The correct answer is

B. income effect.

good luck ❤

User Xi Liang
by
7.9k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.