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Econ 10a Midterm 2 Study Guide with Questions and Answers
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Econ 10a Midterm 2 Study Guide with Questions and Answers Substitution Effect Definition ANSWER change in the demand due to the change in the rate of exchange (relative price) of goods 1 and 2 -ex p1 increases, good 2 becomes relatively cheaper so you demand more of good 2 and less of good 1 ...
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