Problem on Substitute Goods declining sharply

The market demand curve for the potatoes would shift to the left in reaction to: (1) New research pointing that eating French fries helps prevent cancer. (2) Potato lovers becoming alarmed regarding the rumored potato shortage. (3) Genetic engineering methods that make potatoes taste better than ever. (4) The price of rice, that is a substitute good, declining sharply.

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

View Complete Question

Related Questions in Microeconomics

Q : Consumer demands-technologies used by

Consumer demands for the caviar are least possible to change in response to modifications in: (1) Technologies utilized by workers who harvest caviar. (2) Government taxes or subsidies on the caviar. (3) Prices for other delicacies people eat on the festive occasions.

Q : Lowering price of units selling A

A monopolist which does not price discriminate faces a marginal revenue curve which slopes down quicker than its demand curve since: (w) economies of scale are significant. (x) selling more needs lowering the price of

Q : Meaning of surplus in current price I

I have a problem in economics on Meaning of surplus in current price. Please help me in the following question. The surplus of potting soil signifies that the current price: (1) Makes an surplus demand. (2) Is above the equilibrium. (3) Surpasses the

Q : Important of economies of scale to

Karl Marx's prediction which competition ultimately leads to monopoly is most likely to be valid while: (w) diseconomies of scale discourage competition. (x) there are always constant returns to scale. (y) economies of scale are important relative to

Q : Labor Union History Can someone please

Can someone please help me in finding out the accurate answer from the following question. Preceding to the AFL-CIO merger in the year 1955: (i) AFL was an alliance of the industrial unions. (ii) The CIO was an alliance of the craft unions. (iii) Strikes over which un

Q : Vietnam divided into two different

Why Vietnam divided into two different nations?

Q : Define multiplier Multiplier : It is

Multiplier: It is the number by which change in investment should be multiple in order to find out the resultant change in income and output.

Q : Reducing prices due to a commodity

Which of the given would NOT be taken as predatory behaviour: (w) Rapid technological innovation. (x) Reducing prices due to a commodity surplus. (y) Duplicative products intended to absorb shelf space. (z) Introduction of close substitutes for rivals

Q : General law of demand I have problem in

I have problem in this question based on law of demand. Provide me correct answer of this. Described the circumstances in which the "general law of demand" not hold?

Q : Pure competition for quantity adjustment

The only industrial structure in that all firms are pure quantity-adjusting price takers is: (1) impure oligopoly. (2) pure monopoly. (3) pure or perfect competition. (4) monopolistic competition. (5) pure oligopoly.

Discover Q & A

Leading Solution Library

Avail More Than 1452841 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1926879
Asked

3,689

Active Tutors

1452841

Questions
Answered

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

Submit Assignment