Ask Question
11 October, 06:05

Which of the following describes the substitution effect?

A. As the price of a good falls, people will substitute other products.

B. As the price of a good rises, people will substitute other products.

C. As demand rises, people will substitute other products.

D. As demand falls, people will substitute other products.

+3
Answers (1)
  1. 11 October, 08:12
    0
    B. As the price of a good rises, people will substitute other products. For example : If the price for an ingredient is raised they could choose to use a less expensive substitute.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Which of the following describes the substitution effect? A. As the price of a good falls, people will substitute other products. B. As the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers