Which economic concept explain the level of potato production?
a. fungibility
b. elasticity
c. non-excludability
d. substitution

The level of potato production in this example will follow the concept of Substitution, letter D. A substitute, or substitute good, in economics and consumer theory is a product or service that a consumer perceives as the same or similar to another product. In the formal language of economics, X and Y are substitutes if the demand for X increases when the price of Y increases.

Potatoes from different farms are an example: if the price of one farm's potatoes goes up, then it can be presumed that fewer people will buy potatoes from that farm and source them from another farm instead.

all persons entering into t

he employment of the compan

y, are considered as engaged

for twelve months, and those who leave

sooner, or do not comply with all these

regulations, will not be entitled

to a regular discharge.