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What is substitution effect?
Substitution effect can be defined as the change in the pattern of buying goods when the price of the relative substitute goods is changed. This effect is a situation where a consumer decides on which product to buy from the relative goods when the change in the price of them is observed.
One can represent the same effect with the help of demand curve using graphics too. And such a platform will increase the quality of your assignment too. With substitution effect assignment help you will have our experts to work for you!
Examples of substitution effect
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