Which phrase describes the substitution effect?

a.) buying cheaper alternatives when a product becomes expensive
b.)replacing existing producers in a market with new producers
c.)replacing existing products in a market with higher-quality products
d.)substituting existing technology with a new technology to produce more goods

What steps did jim moon take to build a relationship between his business and bank rhode island? 2. what collateral, if any, do you think moonworks can use as security for a future loan? explain your answer. 3. put yourself into the shoes of the banker handling the moonworks' account. what questions would you ask if the company asks for additional debt financing?