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If Prices at Wendy's Rise, More Consumers Buy Their Meals

Question 45

Multiple Choice

If prices at Wendy's rise, more consumers buy their meals at McDonald's and fewer consumers buy their meals at Wendy's.This is an example of

A) consumers' action to boycott Wendy's.
B) commodity substitution.
C) new good bias.
D) outlet substitution.
E) quality change bias.

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