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662-02-01-02-00_files/i0100000.jpg Consumers' willingness to replace a costly item with a less costly item is an example of a. the substitution effect. c. demand elasticity. b. the income effect. d. complements.
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Consumers' willingness to replace a costly item with a less costly item is an example of: the substitution effect.
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Asked 11/23/2014 6:01:45 PM
Updated 4/14/2015 2:34:49 PM
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Consumers' willingness to replace a costly item with a less costly item is an example of: the substitution effect.

Added 4/14/2015 2:34:49 PM
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