Write In 500 Word About The Topic Provided In The Description.

When the price of a good changes (decreases), it becomes less expensive which allows consumers to increase their satisfaction (purchase) for that good. Just the opposite happens when the price of a good changes increases. When the price of a good changes (increases), it become more expensive which changes the consumer satisfaction for that good causing the consumer to seek a substitution. This concept is the substitution effect of the price change.  Identify a consumer product that has decreased in price and discuss the increase in consumer demand for this product. What have consumer substituted because of this decrease in price.

Include at least 3 quotes from your sources enclosed in quotation marks and cited in-line by reference to your reference list.  Example: “words you copied” (citation) These quotes should be one full sentence not altered or paraphrased. Cite your sources using APA format. Use the quotes in your paragraphs