Question and answer
Joe goes to the grocery store to buy steak. He expects that he will be spending $5.99 per pound for his steak as there is only one brand to choose from and their price has remained the same for about a year. However, to Joe’s surprise, the grocery store has begun selling a generic store brand of the same cut of steak for $3.99 per pound. Joe decides that to save the $2.00 per pound he will try
to store brand steak. Based on the information provided above, which of following terms bests describes the scenario that occurred?
oe goes to the grocery store to buy steak. He expects that he will be spending $5.99 per pound for his steak as there is only one brand to choose from and their price has remained the same for about a year. [ However, to Joes surprise, the grocery store has begun selling a generic store brand of the same cut of steak for $3.99 per pound. Joe decides that to save the $2.00 per pound he will try
to store brand steak. Based on the information provided above, The term that bests describes the scenario that occurred was - - SUBSTITUTION EFFECT ]
Ask a question
Not a good answer? Get an answer now. (FREE)
Original conversation
User: If the supply of a good is inelastic,

User: The market price of a slice of pizza has risen from $1.50 to $2.00. Based on the Market Supply Curve in Figure 5.4,the average pizzeria would respond by _________.

User: Joe goes to the grocery store to buy steak. He expects that he will be spending $5.99 per pound for his steak as there is only one brand to choose from and their price has remained the same for about a year. However, to Joe’s surprise, the grocery store has begun selling a generic store brand of the same cut of steak for $3.99 per pound. Joe decides that to save the $2.00 per pound he will try to store brand steak. Based on the information provided above, which of following terms bests describes the scenario that occurred?

Weegy: oe goes to the grocery store to buy steak. He expects that he will be spending $5.99 per pound for his steak as there is only one brand to choose from and their price has remained the same for about a year. [ However, to Joes surprise, the grocery store has begun selling a generic store brand of the same cut of steak for $3.99 per pound. Joe decides that to save the $2.00 per pound he will try to store brand steak. Based on the information provided above, The term that bests describes the scenario that occurred was - - SUBSTITUTION EFFECT ]
Expert answered|yumdrea|Points 1214|



Question
Asked 219 days ago|9/16/2013 7:45:29 PM
0 Answers/Comments
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
Which is the fairest way to take a representative sample from a population?
Weegy: The best method to use to obtain a representative sample is to randomly select your sample from the population. [ A study that has a large, randomly selected sample or a carefully matched sample is said to have external validity. ] (More)
Question
All Categories|No Subcategories|Expert Answered
Asked 217 days ago|9/18/2013 8:30:19 PM
0 Answers/Comments
Home | Contact | Terms | Privacy | Social | ©2013 Purple Inc.
Ad
Popular Conversations
Solve the inequality 5x
Weegy: 5x User: Solve the inequality 5x Weegy: 5x User: Solve the inequality 12x Weegy: It will be c.x User: Solve the ...
4/23/2014 4:34:04 PM| 7 Answers
What continent is turkey?
Weegy: Turkey is in the continent of both EUROPE and ASIA.
4/24/2014 11:58:46 AM| 7 Answers
A metaphor is a figure of speech that compares two unlike things. ...
Weegy: A metaphor is a figure of speech that compares two unlike things. Answer is: T
4/23/2014 4:48:14 PM| 4 Answers
In multiplication, the number being multiplied is called the ...
Weegy: In multiplication, the number being multiplied is called the multiplicand. User: The number being ...
4/23/2014 6:49:19 PM| 4 Answers
Simplify 5^-2 by making the exponent positive.
Weegy: 5^-2 = B. 1/5^2
4/23/2014 8:59:53 PM| 4 Answers
Solve for x. x - 8 = -20 -28 -12 12 28
Weegy: 6(x - 2) = 4, 6x - 12 = 4, 6x = 4 + 12, 6x = 16, x = 16/6, or 8/3 in simplest form. User: The sum of ...
4/23/2014 1:27:55 PM| 3 Answers
Branches within the ICS organization can be established: ...
Weegy: Branches within the ICS organization can be established Geographically or functionally.
4/23/2014 5:48:09 PM| 3 Answers
5x + 4y + 15 + 2x - 8y - 5=
Weegy: The answer for 5x - 4y = 12 is y = 1/4 (5 x-12). User: 8(5a - b) - 6(4b-4a)= Weegy: a^2 - 5a - 6 = (a + ...
4/23/2014 8:09:04 PM| 3 Answers
(m3n + 8)(m3n - 5)
Weegy: simplified the expression is: (m3n)^2+3m3n-40 User: (2x - 3y)(4x - y) User: [4 - (3c - 1)][6 - ( 3c - 1)] ...
4/24/2014 11:19:58 AM| 3 Answers
Which country is not a permanent member of the U.N. Security ...
Weegy: the country which is not a permanent member of the UN council is (c) China. User: Who holds veto power in the ...
4/23/2014 10:11:57 AM| 2 Answers
Zeller, Inc., has 50,000 shares of stock outstanding. Zeller declares ...
Weegy: Zeller, Inc., has 60,000 shares of stock outstanding. Zeller declares a dividend of $580,000. ...
4/23/2014 10:05:10 AM| 2 Answers
Weegy Stuff
S
L
P
C
L
P
C
Points 1947 [Total 7334]| Ratings 0| Comments 1947| Invitations 0|Offline
S
L
P
C
P
C
1
L
P
C
Points 1863 [Total 9744]| Ratings 0| Comments 1863| Invitations 0|Offline
S
1
L
C
L
Points 979 [Total 5782]| Ratings 5| Comments 929| Invitations 0|Offline
S
1
L
1
L
P
Points 582 [Total 7259]| Ratings 2| Comments 562| Invitations 0|Offline
S
L
Points 485 [Total 2932]| Ratings 2| Comments 455| Invitations 1|Offline
S
L
1
1
1
Points 339 [Total 3605]| Ratings 7| Comments 269| Invitations 0|Offline
S
R
Points 267 [Total 379]| Ratings 6| Comments 187| Invitations 2|Offline
S
Points 222 [Total 222]| Ratings 6| Comments 142| Invitations 2|Online
S
Points 170 [Total 586]| Ratings 0| Comments 170| Invitations 0|Offline
S
1
Points 165 [Total 495]| Ratings 4| Comments 125| Invitations 0|Online