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Eduncle posted an MCQ
October 20, 2019 • 16:06 pm 0 points
  • UGC NET
  • Economics

In explaining the price effect, which of the following is/are constant ?

In explaining the price effect, which of the following is/are constant ? (a) Real Income (b) Money Income (c) Price ratio Choose the correct answer from the code given below :

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    Eduncle Best Answer

    The price effect shows how much satisfaction of the consumer varies due to the change in the consumption of two goods, as the price of one changes, the price of the other and money income remains constant.

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