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3 July, 22:31

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.

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  1. 4 July, 02:15
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    As the price of goods rises, people will substitute other products.
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