--%>

Determining Substitution products

When a price hike for Big Gulps of GlugaChug from $1 to $2 improves sales of dehydrated water from 50 to 100 kegs, then the dehydrated water and GlugaChug are: (1) Joint outputs in the production. (2) Complements. (3) Substitutes. (4) Mixed resource alternatives.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Different pure economics rent Pure

    Pure economic rents are different most from economic profits in which they are: (w) received by the owners of productive resources. (x) frequently costs to the firm using the resources which generate them, but not to society as a whol

  • Q : System of Note-issue Name the System of

    Name the System of Note-issue in India. Answer: In India, the system of note-issue is the Minimum Reserve System. The RBI is needed to keep minimum reserves of Rs 2

  • Q : Examples of pairs of substitutes goods

    Illustrations of pairs of goods which are close substitutes comprise: (i) Bow ties and tuxedoes. (ii) Glasses and contact lenses. (iii) Power boats and water skis. (iv) Baby food and diapers. (v) Camping trailers and large SUVs.

    Q : Changes in quantity demand determine

    When the price of Kellogg's Corn Flakes goes up by $1.89 to $2.05 and quantity demanded changes with 250 to 210, in that case the price elasticity of demand would be of: (w) .47 (x) .02 (y) 250. (z) 2.14. I need a

  • Q : Calculate of total variable in an area

    Total variable costs can be estimate as: (1) 0bcq1. (2) 0adq2. (3) 0Peq2. (4) aPed. (5) Cannot be measured within demonstrated figure.

    Q : Equilibrium of a commodity What takes

    What takes place to equilibrium of a commodity when there is a decrease in its demand and increase in its supply? Answer: The equilibrium price will reduce.

  • Q : Problem on reducing Complementary Goods

    The failure of spaghetti crop would be most probable to decrease the: (1) Supply of cheap red wine. (2) International rate of inflation. (3) Demand for potato salad. (4) Demand for the spicy tomato sauce. (5) Prices of dinners in an Italian restaurant.

    Q : Goods and service problem The market

    The market system's answer to the fundamental question "Who will get the goods and services?" is essentially: 1) "Those willing and able to pay for them." 2) "Those who physically produced them." 3) "Those who most need them." 4) "Those who get utility from them."

  • Q : Sticky prices in oligopoly markets

    Sticky prices within oligopoly markets are: (w) predicted by the kinked demand curve model. (x) substantiated by many statistical studies. (y) most common for highly differentiated products. (z) a result of price discrimination.

    Q : Economic minimized losses or maximized

    When a firm’s total revenue potentially exceeds total variable cost for at least one output level, in that case economic losses are minimized or profit is maximized through producing where: (i) average total cos