In the process of shopping, Mr. X whose wages per month does not exceed N200, finds that the price of a commodity he used to purchase with a fixed amount of N200 has risen to N230,. He therefore decides not to buy this commodity at all. Mr. X is thus affected by the?

A. substitution effect of a price change
B. income effect of a price change
C. opportunity cost of a price change
D. inflation effect of a price change  

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Correct Answer: D