By definition: a substitute is a good that: Select one: O a. has same likeness as another good O b. that is not used in place of another good O c. of lower quality than another good O d. of higher quality than another good
By definition: a substitute is a good that: Select one: O a. has same likeness as another good O b. that is not used in place of another good O c. of lower quality than another good O d. of higher quality than another good
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 13RQ: What does a downward-sloping demand curve mean about how buyers in a market will react to a higher...
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![By definition: a substitute is a good that:
Select one:
O a. has same likeness as another good
O b. that is not used in place of another good
O c. of lower quality than another good
O d. of higher quality than another good](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7178b353-e247-425b-84b6-e33a7df0f469%2Fdc649598-f1ef-402e-b3b2-064f60be5f62%2Fjt9pyqv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:By definition: a substitute is a good that:
Select one:
O a. has same likeness as another good
O b. that is not used in place of another good
O c. of lower quality than another good
O d. of higher quality than another good
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