Practice mode Consumer Theory vs. Real Consumers

A change in the relative prices of which pair of goods would probably produce the smallest substitution effect?

Correct answer C. Right shoes and left shoes

Explanation

Right and left shoes are perfect complements consumed in fixed one-to-one proportions, so their indifference curves are right angles and a relative price change causes no substitution between them.

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A change in the relative prices of which pair of goods would probably produce the smallest substitution effect?

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A change in the relative prices of which pair of goods would probably produce the smallest substitution effect?

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