If Muffins And Bagels Are Substitutes, A Higher Price For Bagels Would Result In A(N)
Muffins and bagels are both delicious bakeries that can serve as substitutes for each other. If the price of bagels rises, the consumers would seek out the cheaper alternative option, which is muffins. This would result in a lower demand for bagels and thus a decrease in their sales. The decrease in demand for bagels …
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