If the price of a substitute increases, which of the following is most likely to happen in the market for the product under consideration in the short run?
a. Supply will increase.
b. Firms will leave the market.
c. Firms will devote more variable inputs in the production of this good.
d. Firms will devote less variable inputs in the production of this good.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If the price of a substitute increases, which of the following is most likely to happen in the market for the product under consideration ...” 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
You Might be Interested in
Run-of-the-Mills provides your marketing firm with the following dа ta: When the price of penguin patties decreases by 20%, the quantity of raskels sold decreases by 22% and the quantity of kipples sold increases by 7%.
Answers (1)
A publisher is deciding whether or not to invest in a new printer. The printer would cost $900, and would increase the cash flows in year 1 by $500 and in year 3 by $800. Cash flows do not change in year 2.
Answers (1)
What must be marked on ready-to-eat bags (PHFs): Best before date Temperature to reheat Name of the food Shelf to store the food on
Answers (2)
Nevada Company experienced the following events during its first year of operations: Acquired an additional $1,000 cash from the issue of common stock. Paid $2,400 cash for utilities expense. Paid a $1,500 cash dividend to the stockholders.
Answers (1)
Mechanisms that enforce discipline over! nancial reporting quality least likely include:A) counterparties to private contracts. B) accounting standard-setting bodies. C) government securities regulators.
Answers (1)
New Questions in Business
Douglas County sought bids for a construction project. Robert Taggart wanted to submit a bid but knew the project needed rock.
Answers (1)
Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 94,000 units, 80% complete as to materials and 25% complete as to conversion.
Answers (1)
Luther is a successful logistical services firm that currently has $5 billion in cash. Luther has decided to use this cash to repurchase shares from its investors, and has already announced the stock repurchase plan.
Answers (1)
Mr. Curtis paid the following taxes: Federal income tax $ 66,750 Federal gift tax 334 Federal employer payroll tax for housekeeper 1,202 Indiana income tax 7,500 Indiana sales tax on consumer goods and services 2,670 Local property tax on: Principal
Answers (1)
Johnson Corp. has an 8% required rate of return. It's considering a project that would provide annual cost savings of $50,000 for 5 years.
Answers (1)