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AP® Microeconomics

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Moderate

Substitution Effect: Impact of Price

APMICR-SJOEMB

When the price of a product decreases, people buy

A

more of a substitute which has become relatively more expensive.

B

less of a substitute which has become relatively more expensive.

C

more of a substitute that has become relatively less expensive.

D

less of a substitute that has become relatively less expensive.

E

the same quantity if they have elastic demand.