Economy, asked by sameerronaldo12763, 7 months ago

what do you mean by substitution Effect ?

Answers

Answered by Anonymous

6

Answer:

The substitution effect is the decrease in sales for a product that can be attributed to consumers switching to cheaper alternatives when its price rises. ... If beef prices rise, many consumers will eat more chicken

Answered by Anonymous

5

Answer:

The substitution effect is the decrease in sales for a product that can be attributed to consumers switching to cheaper alternatives when its price rises..

Hope this helps u ✨ ✌

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