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Baseball bats and bananas

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a. Ted spends his money on only two things: burgers and hats.  Suppose the price of hats rises. Naturally, Ted buys fewer hats. He buys more burgers. This means that for Ted, the (substitution effect / income effect / demand effect / Bernoulli effect  dominates).

b. Jill spends her money on only two things: baseball bats and bananas. For her, the income effect dominates. When the price of bananas falls, Jill will naturally buy more bananas. And she will buy ( more / fewer / the same number )of  baseball bats.

Reference no: EM132346180

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