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प्रश्न
Which effect occurs when a fall in price increases consumers’ real purchasing power, enabling them to buy more?
पर्याय
Income Effect
Substitution Effect
Diminishing Utility
Multi-purpose Use
MCQ
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उत्तर
Income Effect
Explanation:
The income effect refers to the increase in a consumer’s ability to buy more goods when prices fall, as their existing income can purchase more.
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