Business, 04.03.2020 17:36 Tcareyoliver

You can spend $10 for lunch and you would like to purchase two cheeseburgers. When you get to the restaurant, you find out the price for cheeseburger has increased from $5 to $6, so you decide to purchase just one cheeseburger. This is best described as:
Α. the substitution effect of a price change
B. the income effect of a price change
C. a decrease in the buyer's reservation price.
D. an increase in the buyer's reservation price.

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You can spend $10 for lunch and you would like to purchase two cheeseburgers. When you get to the re...