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Petrol
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∙ 13y ago
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A close-substitute is what?
A close substitute is a product or service you can purchase in place of another and still get the same satisfaction. There are many substitute goods available on the market.
What is close subsitute of a product?
A close substitute of a product is one which can easily replace it - eg margarine is a close substitute of butter. Two products are substitutes if they have a positive cross-elasticity - as the price of one increases, the quantity of the other increases
What product has no substitute?
Petrol
What is the meaning for substitute?
its something you use instead of that one thing.
Which describes nicotine-substitute product?
?
Which describes a nicotine- substitute product?
?
Is there a product to be mixed with shotcrete that will substitute for rebar in an in ground pool?
No
What is the robo sand?
Its a substitute to Natural Sand.An innovative Product.
Can diabetics use this product?
I am a diabetic and this product is a very good sugar substitute that is safe for us diabetics.
What is a close substitute?
Close substitutes are those goods that could closely take the place of a particular good.
What is an example of substituted goods?
Substitute goods are goods that can serve as replacements for one another; when the price of one increases, demand for the other increases. One may substitute tea for coffee. A perfect substitute is an identical product. One may substitute a Ford for a Toyota.
What happens to a monopolistically competitive firm that begins to charge an excessive price for its product?
Consumers will substitute with a rival's product.
