asked 56.6k views
0 votes
An increase in the price of football tickets will cause the ________ for (of) basketball tickets (a substitute) to ________. Group of answer choices demand; decrease supply; decrease demand; increase

asked
User Ygesher
by
7.9k points

1 Answer

4 votes

Answer:

demand; increase

Step-by-step explanation:

Given that two items are substitutes, consumers tend to be indifferent in using or consuming either one of them. Thus consumers will tend to buy the cheapest among them.

Thus, if the prices of football tickets rises, all else being equal, demand for its substitute (basketball tickets) will increase as consumers shift their purchase to the less expensive substitute.

Therefore, an increase in the price of football ticket will cause the demand for basketball tickets (a substitute) to increase.

answered
User Roshini
by
8.1k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.