Multiple Choice Questions on refers to the effects of a change in price of commodity X on demand for commodity Y when ........... for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

refers to the effects of a change in price of commodity X on demand for commodity Y when ...........

Economics (CUET) Consumer Behaviour and Demand
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    ______________refers to the effects of a change in price of commodity X on demand for commodity Y when quantity demanded.

     

    Income effect
     

    Correct Answer

    Price Effect

     

    Incorrect Answer

    Cross-price effect
     

    Incorrect Answer

    None of these

    Incorrect Answer
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    Explanation:

    Option (3) is correct.
    Price Effect refers to Explanation: Cross effects of a change in price of commodity-X on demand for commodity-Y when X and Y are related goods.

    By: Parvesh Mehta
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