elainaotoole7232 elainaotoole7232
  • 21-07-2017
  • Business
contestada

According to the substitution effect, a decrease in the price of a product leads to an increase in the quantity of the product demanded because buyers:

Respuesta :

Greenleafable
Greenleafable Greenleafable
  • 30-07-2017
The correct answer is purchase more of the now relatively less expensive good.
When a product is discounted, obviously more people will be willing to buy it then when the price was higher. If more people want to buy a product, then the demand for that product rises, and then the production of those goods is also higher.
Answer Link

Otras preguntas

Why is the ganges river important to india?
Which of the following options is a better purchase for a bicycle? Option 1: A cash sale for $88 Option 2: $5 down with equal payments of $8 for 10 wee
If a petition is filed against a child for truancy, this means that the child has committed what offense?
can anyone plz help me with this one its worth 10 points!!!!
which of the following most contributed to anti-foreign sentiment in china during the age of imperialism A)foreigners ignored chines laws B)foreigners outlawed
30 pts!!!!!!!!! The quotient of (x^4 – 3x^2 + 4x – 3) and a polynomial is (x^2 + x – 3). What is the polynomial? A. x^4 – 2x^2 + 5x – 6 B. x^2 – x + 1 C. x^6 +
Which of the following makes a true statement? (5 points) The Senate has a Rules Committee that sets limits and rules for both the House and Senate on debating
ten minus five and two thirds
What impact did the japanese attack on pearl harbor have on world war ii?
What religion believed in karma, or that your actions in your life would have consequences?