According to the substitution effect, a decrease in the price of a product leads to an increase in the quantity of the product demanded because buyers:

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21-07-2017
Business

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According to the substitution effect, a decrease in the price of a product leads to an increase in the quantity of the product demanded because buyers:

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Greenleafable Greenleafable · Answer 1 · 2017-07-30T14:56:58+02:00

Greenleafable Greenleafable

30-07-2017

The correct answer is purchase more of the now relatively less expensive good.
When a product is discounted, obviously more people will be willing to buy it then when the price was higher. If more people want to buy a product, then the demand for that product rises, and then the production of those goods is also higher.

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