--%>

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 : Pure competitors or perfect competitors

    The price makers in a purely competitive market are: (i) pure competitors or perfect competitors. (ii) producers of capital goods. (iii) pure oligopolies. (iv) monopolistic competitors.  (v) pure monopolies. H

  • Q : Illustration of a natural monopoly Of

    Of the given firms, the best illustration of a natural monopoly is: (i) Dell, the largest seller of personal computers. (ii) Toyota, i.e., the huge car company in the world. (iii) OPEC, i.e., the international oil cartel. (iv) Google that dominates th

  • Q : Theory of microeconomic game in market

    The theory of market structure which several microeconomic game theorists were ready to toss within the dustbin of intellectual history into the 1970 year but that, in the early 1980s, turned into a foundation for the “new&rdquo

  • Q : Inelastic proportion of demand in

    This profit-maximizing firm in illustrated graph will never knowingly generate: (w) where MR is positive. (x) where MR is falling. (y) on the elastic proportion of the demand curve. (z) on the inelastic proportion of the demand curve.

    Q : Advantage of a partnership over

    Can someone help me in finding out the right answer from the given options. One of the advantages of a partnership over proprietorship is: (i) In a partnership just one partner is liable for the debt. (ii) Partnerships permit for more specialization in the management.

  • Q : Economic profit generating purely

    In this illustrated figure in below the only purely competitive firm currently generating economic profit is in: (w) Firm A. (x) Firm B. (y) Firm C. (z) Firm D.

    Q : An increase in consumer desire for

    An increase in consumer desire for strawberries is most likely to: increase the number of strawberry pickers needed by farmers. reduce the supply of strawberries. reduce the number of people willing to pick strawberries. reduce the need for strawberry pickers

  • Q : Annual economic profit When point e

    When point e corresponds to $9 per copy for Silver Screen DVDs, Nostalgia Corporation can produce annual economic profit of at mostly about: (i) $25 million. (ii) $35 million. (iii) $50 million. (iv) $75 million. (v) $100 million.

    Q : Spending pattern in Substitution Effects

    I have a problem in economics on spending pattern in Substitution Effects. Please help me in the following question. Even when your real income were held steady by adjusting for price modifications, your spending pattern would react to modifications in relative prices

  • Q : Monopolies in monopolistically

    Unlike several monopolies, a monopolistically competitive firm in long-run equilibrium produces a level of output where is: (1) price equals marginal cost. (2) pricing is economically efficient. (3) marginal revenue most greatly exceeds marginal cost.