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Q: What is the factor substitution effect?
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Price effect is a combination of income effect and substitution effect?

Yes, Price effect = substitution effect + income effect


What does the substitution effect do when the price drops?

facts


What has the author Maria Borga written?

Maria Borga has written: 'Factor-prices and factor substitution in U.S. firms' manufacturing affiliates abroad' -- subject(s): American Corporations, Effect of international trade on, Effect of technological innovations on, Manufacturing industries, Mathematical models, Prices, Wages


What term is defined as buying a lower-priced product rather than a more expensive product?

I cannot see the terms, but it may be purchasing power.


The law of demand results from which two patterns of behavior?

substitution effect and income effect :) 100% accurate


Where would a DNA substitution have the smallest or least effect on the organism?

exon


What is the substitution effect?

As demand rises, people will substitute other products.


An article on income effect and substitution effect?

chnage in consumer's equilbrium due to change in income of the consumer..known as income effect.


When a reduction in the price of a good allows a consumer to purchase more of all goods this effect is called the?

Substitution effect


Explain the subsititution and income effect of decrease in price?

substitution effect is the explanation for the downward slope of the aggregate damnd curve.


What describes the substitution effect?

As the price of a good rises, people will substitute other products.


Is there a significant interaction when there is a significant effect for factor A and a significant effect for factor B?

no