Question: THE NEXT QUESTION IS BASED ON THE FOLLOWING GRAPH: Quantity A of Potato Chips Quantity of Diet Coke 5. If the consumer is currently at

THE NEXT QUESTION IS BASED ON THE FOLLOWING GRAPH: Quantity A

THE NEXT QUESTION IS BASED ON THE FOLLOWING GRAPH: Quantity A of Potato Chips Quantity of Diet Coke 5. If the consumer is currently at point C in the figure, what effect is represented by a movement to point B as a result of an increase in the price of potato chips? (1) Substitution effect (2) Budget effect (3) Income effect (4) Price effect

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