Steve went to his favorite hamburger restaurant with $3,expecting to buy a $2 hamburger and a $1 soda.When he arrived he discovered that hamburgers were on sale for $1 each,so Steve bought two hamburgers and a soda.Steve's response to the decrease in the price of hamburgers is best explained by:

A) the substitution effect.
B) the income effect.
C) the price effect.
D) a rightward shift in the demand curve for hamburgers.

Income Effect

The change in an individual's or economy's consumption resulting from a change in real income.

Price of Hamburgers

The price of hamburgers refers to the cost at which hamburgers are sold, influenced by factors such as production costs, demand, and market competition.

Hamburger Restaurant

is a specific type of dining establishment that specializes in the preparation and sale of hamburgers alongside various accompaniments.