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The 'substitution effect' takes place due to change in

This question belongs to Commerce Economics
Economics
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The 'substitution effect' takes place due to change in

Answer & Solution
Correct Answer: Option C
The 'substitution effect' takes place due to change in Relative prices of the commodities. The substitution effect refers to the change in demand for a good as a result of a change in the relative price of the good in terms of other goods.
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