This determinant of demand
describes the tendency of
consumers to exchange a
similar, lower-priced product
for another product that is
relatively more expensive.
O
Income Effect
O Substitution Effect
O Market Size
0 Complementary effect
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changes in non-price factors that will cause an entire supply curve to shift (increasing or decreasing market supply); these include 1) the number of sellers in a market, 2) the level of technology used in a good's production, 3) the prices of inputs used to produce a good, 4) the amount of government regulation, ...
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