History, 20.01.2020 18:31 montgomerykarloxc24x

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

Answers: 2

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Which phrase describes the substitution effect?

a.
buying cheaper alternatives w...

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