Question and answer
What is the substitution effect? A. All goods have a substitute, and the rise in price for substitutes causes a rise in supply for goods. B. When the price of one good falls, the demand for
complements for that good rises, and vice versa. C. When the price of one good rises, the demand for substitutes for that good rises, and vice versa. D. All goods have a complement, and the rise in price for substitutes causes a fall in supply for goods.
C. When the price of one good rises, the demand for substitutes for that good rises, and vice versa. [ || An effect caused by a rise in price that induces a consumer (whose income has remained the same) to buy more of a relatively lower-priced good and less of a higher-priced one. Substitution effect is always negative for the seller: consumers always switch from spending on higher-priced goods
to lower-priced ones as they attempt to maintain their living standard in face of rising prices. Substitution effect is not confined only to consumer goods, but manifests in other areas as well such as demand for labor and capital. See also income effect. ]
Expert answered|ouanne01|Points 230|
Question
Asked 7/28/2011 5:22:32 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
The use of government spending to influence the economy is called A. fiscal policy. B. expense policy. C. budget policy. D. market policy.
Weegy: B. expense policy. (More)
Question
Expert Answered
Updated 306 days ago|1/24/2014 2:42:30 PM
1 Answer/Comment
The use of government spending to influence the economy is called: A. Fiscal Policy.

Added 306 days ago|1/24/2014 2:42:29 PM
This answer has been confirmed as correct, not copied, and helpful.
The use of government spending to influence the economy is called A. fiscal policy. B. expense policy. C. budget policy. D. market policy.
Question
Not Answered
Updated 177 days ago|6/2/2014 9:44:09 PM
1 Answer/Comment
The use of government spending to influence the economy is called Fiscal policy.
Added 177 days ago|6/2/2014 9:44:09 PM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by jeifunk [6/2/2014 9:44:38 PM], Rated good by jeifunk
What is the ratio of a deposit that the Fed requires banks to keep in reserve? A. the stored ratio B. the required reserve ratio C. the compulsory ratio D. the mandatory ratio
Weegy: B. the required reserve ratio is the ratio that the Fed requires banks to keep in reserve. (More)
Question
Expert Answered
Asked 7/21/2011 11:29:40 PM
0 Answers/Comments
18,452,249 questions answered
Popular Conversations
Give the values of a, b, and c from the general form of the equation ...
Weegy: hen the following quadratic equation is written in general form, what is the value of "c"? The formula of ...
11/26/2014 8:05:05 AM| 3 Answers
An object is dropped off a building that is 144 feet tall. After how ...
Weegy: 16t^2 = 144 Simplify, divide both sides by 16 t^2 = 9 t = 3 seconds User: The square of a number exceeds that ...
11/26/2014 8:02:05 AM| 2 Answers
. Simplify this expression: 4p + 9 + (–7p) + 2 = ? A. –3p + ...
Weegy: C. s=40 User: Solve this equation: 80 = 3y + 2y + 4 + 1. A. y = 75 B. y = 15 C. y = 1/5 D. y = –15 ...
11/26/2014 8:28:06 AM| 2 Answers
double marginality
Weegy: According to Nicholas Alex, double marginality is the social burden that African American police officers carry ...
11/26/2014 2:10:01 PM| 2 Answers
If the protagonist tells the story himself, it is told in the ...
Weegy: The story is told in first person if it is told from the protagonist's point of view :)
11/26/2014 2:15:57 PM| 2 Answers
In which specimen were cells first identified?
11/26/2014 11:45:51 PM| 2 Answers
Weegy Stuff
S
L
1
L
P
C
1
P
C
1
L
P
C
1
Points 2688 [Total 14398]| Ratings 10| Comments 2588| Invitations 0|Offline
S
L
Points 1466 [Total 3752]| Ratings 0| Comments 1466| Invitations 0|Offline
S
L
Points 777 [Total 1298]| Ratings 6| Comments 717| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
Points 767 [Total 14141]| Ratings 0| Comments 767| Invitations 0|Offline
S
Points 754 [Total 786]| Ratings 1| Comments 744| Invitations 0|Offline
S
1
L
L
Points 273 [Total 6667]| Ratings 0| Comments 273| Invitations 0|Offline
S
L
Points 161 [Total 1457]| Ratings 3| Comments 131| Invitations 0|Offline
S
Points 86 [Total 86]| Ratings 1| Comments 76| Invitations 0|Offline
S
Points 50 [Total 50]| Ratings 0| Comments 0| Invitations 5|Offline
S
Points 46 [Total 46]| Ratings 3| Comments 6| Invitations 1|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.