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QUESTION
Which statement describes the substitution effect? As demand falls, people will substitute other products. As the price of a good rises, people will substitute other products. As demand rises, peop
Which statement describes the substitution effect?
As demand falls, people will substitute other products.
As the price of a good rises, people will substitute other products.
As demand rises, people will substitute other products.
As the price of a good falls, people will substitute other products.
