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Business, 06.10.2019 04:01 Robinlynn228

Goods x and y are perfect substitutes. when the market price of good x is? $5/unit, firm f produces 500 units of x. when the price of y? rises, 100 consumers of y shift to the consumption of good x. this causes industry analysts to believe that firm f has increased quantity supplied of x by 100 units to meet the higher demand for it. to arrive at this? conclusion, the industry analysts are assuming that

a. each person will now buy more of x than they did prior to the increase in the price of y.
b. good y is an inferior good.
c. good x is the only substitute of y available to them.
d. the law of supply does not hold for good y.
e. the new buyers of good x? will, on? average, consume one unit each.

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