Assume the price of Advil increases. As a result, you decrease the quantity of Advil purchased each month and purchase more Tylenol. This is an example of the:a. income effect. b.consumption effect. c.utility effect. d.substitution effect.

substitution effect.

Explanation:

Substitution effect is when a consumer shifts to a cheaper alternative when the price of a good increases.

When the price of Advil increased, the quantity of Advil purchased each month fell and purchase of Tylenol increased.

Income effect is when there's a change in demand as a result of a change in purchasing power and real income of the consumer.

I hope my answer helps you

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself