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 ]
Get an answer
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 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
Expert Answered
Asked 9/18/2013 8:30:19 PM
0 Answers/Comments
21,772,673 questions answered
Popular Conversations
The sequence 2, 2, 2, 2, ... is a) arithmetic sequence b) geometric ...
Weegy: A sequence such as 1, 5, 9, 13, 17 or 12, 7, 2, ?3, ?8, ?13, ?18 which has a constant difference between terms. ...
8/3/2015 12:03:10 PM| 8 Answers
Demosthenes
Weegy: Demosthenes was a prominent Greek statesman and orator of ancient Athens. User: Aristophanes was one of ...
8/2/2015 10:05:42 PM| 3 Answers
Susan bought a new computer. She purchased a .
Weegy: What is your question for weegy? User: what is a consumer User: what is service Weegy: what kind of service ...
8/3/2015 9:59:24 AM| 3 Answers
The best time to exercise is A. in the morning. B. in the ...
Weegy: How may I help you?
8/3/2015 10:28:42 AM| 3 Answers
The purpose of accounting is to provide financial information about a ...
Weegy: what is your question?
8/3/2015 11:51:29 AM| 3 Answers
service business.
Weegy: what kind of service you are looking for? User: what is merchandising business.
8/2/2015 6:24:49 PM| 2 Answers
Weegy Stuff
S
P
C
L
P
L
1
P
P
1
P
1
P
L
P
R
Points 148 [Total 10501]| Ratings 0| Comments 148| Invitations 0|Offline
S
Points 98 [Total 413]| Ratings 0| Comments 98| Invitations 0|Offline
S
Points 76 [Total 302]| Ratings 0| Comments 76| Invitations 0|Online
S
Points 64 [Total 65]| Ratings 0| Comments 64| Invitations 0|Offline
S
L
L
P
1
Points 52 [Total 8625]| Ratings 0| Comments 52| Invitations 0|Online
S
1
L
L
Points 25 [Total 8493]| Ratings 0| Comments 25| Invitations 0|Offline
S
Points 11 [Total 11]| Ratings 0| Comments 11| Invitations 0|Offline
S
Points 3 [Total 3]| Ratings 0| Comments 3| Invitations 0|Offline
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.