Effects of price rise on Substitution

Can someone help me in finding out the right answer from the given options. The Substitution away from the good is bigger when its price increases the: (1) More close substitutes there are for good. (2) More different utilizations to which the good has been place at the prior price. (3) Longer is the time-period permitted for adjustment. (4) Fewer are the complements for good. (5) All the above.

View Complete Question

Related Questions in Microeconomics

Q : International market for auto industry

The international market for the auto industry in the 21st century is probably best described as a blend of: (1) pure and monopolistic competition. (2) monopolistic competition and oligopoly. (3) oligopoly and cartel. (4) technological obso

Q : Demand Price equivalent to market price

Can someone please help me in finding out the accurate answer from the following question. People will purchase goods when their demand prices equivalent or surpass: (1) Transaction costs. (2) Market prices. (3) Subjective prices. (4) Price indexes.

Q : Government rent control imposing When

When government rent controls are imposed at R0 when demand equals D0 and then demand changes to D1, there is the: (w) quality of housing is likely to enhance. (x) housing market will be plagued through shortages. (y) price ceili

Q : Problem on buyers and sellers

The supply and demand are affected by the time in sense that the longer the time interval considered, the: (1) Less sensitive sellers and buyers are to price changes. (2) Much sensitive sellers and buyers are to price changes. (3) Bigger is supply and

Q : Market adjustments due to raised

Normal 0 false false

Q : Example to illustrate non-tariff trade

Imports and American cars are close nevertheless not ideal substitutes. When the U.S. government tried to boost American car sales through setting a price ceiling of P1 upon imported cars in that case: (w) the quantity of cars imported will

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 : Monetary price and Transaction Costs

You are more probable to shop at a remote farmer’s market at a lower monetary price instead of purchasing apples at a higher monetary price at the local grocery store if: (i) Possible, as production is cheaper at the farmer’s market. (ii) You want to purch

Q : Marginal Resource Costs problem Can

Can someone please help me in finding out the accurate answer from the following question. The synonymous words of marginal factor costs or marginal resource costs signify to the: (i) Cost incurred in generating an extra unit of capital. (ii) Cost to the resource owne

Q : Greatest total revenue at price In the

In the demonstrated figure, total revenue is greatest for cheesy fried grits of Pixie at a price of as: (w) P1. (x) P2. (y) P3. (z) P4.

Discover Q & A

Leading Solution Library

Avail More Than 1431887 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1923525
Asked

3,689

Active Tutors

1431887

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment