Microeconomic MCQ 1: 11 The quantity demanded of Honda Civics went down as the price increased, and the
consumers that preferred Civics started to buy Toyota Corollas. This is because of
A) income effect
B) substitution effect
C) Japanese cars last longer
D) American cars cost more
E) Demand for Honda Civic shift to the left

Question

11 The quantity demanded of Honda Civics went down as the price increased, and the
consumers that preferred Civics started to buy Toyota Corollas. This is because of
A) income effect
B) substitution effect
C) Japanese cars last longer
D) American cars cost more
E) Demand for Honda Civic shift to the left

Gonza R · Accepted Answer

B) substitution effect

Microeconomic MCQ 1

B) substitution effect

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