The table shows the prices that Terry paid for some of his expenditures in June and July 2019. Explain and discuss why these prices might have led to commodity substitution or outlet substitution. in July On the basis of these price observations, commodity substitution and outlet substitution might have occurred when consumers bought more because they had become relatively. expensive. OA. steak and bread; less B. bananas and lettuce; less C. steak and lettuce; less OD. steak, bread, and lettuce; more Item Steak Bread Bacon Milk Tomatoes Apples Bananas Chicken Lettuce Price in June (dollars per unit) 4.11 3.25 3.62 2.62 1.60 1.18 0.62 Price in July 1.28 1.64 4.01 3.12 3.64 2.62 1.62 1.19 0.66 1.26 1.68

The table shows the prices that Terry paid for some of his expenditures in June and July 2019. Explain and discuss why these prices might have led to commodity substitution or outlet substitution. in July On the basis of these price observations, commodity substitution and outlet substitution might have occurred when consumers bought more because they had become relatively. expensive. OA. steak and bread; less B. bananas and lettuce; less C. steak and lettuce; less OD. steak, bread, and lettuce; more Item Steak Bread Bacon Milk Tomatoes Apples Bananas Chicken Lettuce Price in June (dollars per unit) 4.11 3.25 3.62 2.62 1.60 1.18 0.62 Price in July 1.28 1.64 4.01 3.12 3.64 2.62 1.62 1.19 0.66 1.26 1.68

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter10: Consumer Choice Theory

Section: Chapter Questions

Problem 10P

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The table shows the prices that Terry paid for some of his expenditures in June and July 2019. Price in June Price in July Explain and discuss why these prices might have led to commodity substitution or outlet substitution. Item (dollars per unit) On the basis of these price observations, commodity substitution and outlet substitution might have occurred when consumers bought more Steak 4.11 4.01 in July because they had become.relatively expensive. Bread 3.25 3.12 Васon 3.62 3.64 O A. steak and bread; less Milk 2.62 2.62 B. bananas and lettuce; less Tomatoes 1.60 1.62 Apples 1.18 1.19 O C. steak and lettuce; less Bananas 0.62 0.66 O D. steak, bread, and lettuce; more Chicken 1.28 1.26 Lettuce 1.64 1.68 Click to select your answer and then click Check Answer. 1 part remaining Clear All Check Answer 吕0 000 000 888 esc DII DD F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 ! #3 & 1 2 3 4 6. 7 Q W T Y { tab A | F K caps lock C V M shift 00 %24
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