Which example below best describes the substitution effect?
A. Exchanging an outdated product for a newer version
B. Substituting one good for another because it is less expensive
C. Substituting one good for another because it is more expensive
D. Using a cheaply made product in place of a superior one

Question

Which example below best describes the substitution effect?
	A.	Exchanging an outdated product for a newer version
	B.	Substituting one good for another because it is less expensive
	C.	Substituting one good for another because it is more expensive
	D.	Using a cheaply made product in place of a superior one

anonymous · Answer

The answer is B.

pooja195 · Answer

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