Suppose there are only two goods in the consumption bundle, Peanut Butter and Jelly When the Price of Peanut Butter changes, the substitution effect for Peanut Butter is defined as the TOTAL change in the quantity demanded of Peanut Butter caused by a change in the price of Peanut Butter the PART of the change in quantity demanded of Peanut Butter resulting from a change in income the PART of the change in the quantity demanded of Peanut Butter resulting from a change in relative prices of Peanut Butter and Jelly the TOTAL change in the quantity demanded of Peanut Butter caused by a change in the price of Jelly the PART of the change in the quantity demanded of Peanut Butter resulting from Peanut Butter being cheaper than Jelly overall

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Question: Suppose there are only two goods in the consumption bundle, Peanut Butter and Jelly. When the Price of Peanut Butter changes, the substitution effect for

Suppose there are only two goods in the consumption bundle, Peanut Butter and Jelly. When the Price of Peanut Butter changes, the substitution effect for Peanut Butter is defined as:

the TOTAL change in the quantity demanded of Peanut Butter caused by a change in the price of Peanut Butter
the PART of the change in quantity demanded of Peanut Butter resulting from a change in income
the PART of the change in the quantity demanded of Peanut Butter resulting from a change in relative prices of Peanut Butter and Jelly
the TOTAL change in the quantity demanded of Peanut Butter caused by a change in the price of Jelly
the PART of the change in the quantity demanded of Peanut Butter resulting from Peanut Butter being cheaper than Jelly overall

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