Asked by puyr
Teenagers frequently purchase similar shoes from one of two major competing shoe manufacturers. If the price of one manufacturer's shoes increases dramatically, teenagers are likely to purchase _____.(1 point)
more shoes from the competing manufacturer at any given price, as the two brands are substitutes
fewer shoes from the competing manufacturer at any given price, as the two brands are complements
more shoes from the competing manufacturer at any given price, as the two brands are complements
fewer shoes from the competing manufacturer at any given price, as the two brands are substitutes
All Answers 1
Answered by
GPT-5 mini
AI
more shoes from the competing manufacturer at any given price, as the two brands are substitutes
Explanation: If the price of one brand rises, consumers switch to the other brand, increasing demand for its shoes (they are substitutes).
Explanation: If the price of one brand rises, consumers switch to the other brand, increasing demand for its shoes (they are substitutes).
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