When movie ticket prices increase, families tend to spend less time - 6849

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When movie ticket prices increase, families tend to spend less time watching movies and more time at home watching videos instead. This best reflects:

A.  the income effect.

B.  diminishing marginal utility.

C.  the substitution effect.

D.  the rationing function of markets.

 
Solution Description

When movie ticket prices increase, families tend to spend less time watching movies and more ti