Question

13) The substitution effect is the effect of A) a change in income on the quantity bought when the consumer moves to a higher indifference curve. B) a change in price on the quantity bought when the consumer hypothetically remains on the same indifference curve. C) a change in income on the quantity bought. D) a change in the best affordable point. E) a change in price on the quantity bought when the consumer moves to a higher indifference curve.