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Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————
- a)increase; increase
- b)increase; decrease
- c)decrease; decrease
- d)decrease; increase
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Potato chips and popcorn are substitutes. A rise in the price of potat...
Likely lead to an increase in the demand for popcorn, as consumers will switch to the cheaper alternative. This is because potato chips and popcorn are both snacks that satisfy the same consumer need for a salty, crunchy snack, and consumers will choose the option that provides the best value for their money. As a result, the demand curve for popcorn will shift to the right, leading to an increase in the quantity demanded of popcorn. Conversely, a decrease in the price of potato chips will lead to a decrease in the demand for popcorn, as consumers will switch back to the more expensive option.
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Potato chips and popcorn are substitutes. A rise in the price of potat...
Option A increase, increase
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Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer?
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Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer?.
Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer?.
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Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Potato chips and popcorn are substitutes. A rise in the price of potato chips will ———— —— the demand for popcorn and the quantity of popcorn will ———————a)increase; increaseb)increase; decreasec)decrease; decreased)decrease; increaseCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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