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Answer: a) increase in the demand for bagels
If muffins and bagels are substitutes, a higher price for bagels would result in a(n)
a) increase in the demand for bagels
b) increase in the demand for muffins
c) decrease in the demand for muffins
d) none of the above
b) increase in the demand for muffins
If muffins and bagels are substitutes, a higher price for bagels would result in a(n)
a) increase in the demand for bagels
b) increase in the demand for muffins
c) decrease in the demand for muffins
d) none of the above
b) increase in the demand for muffins
If the muffins and bagels are substitute goods, then a higher price for bagels would create a rise in demand for it.
What is meant by demand?
Demand is one of the market factors which represents an indirect relation between quantity acquired and its price.
Substitute goods are those which are replaced by the customers due to their common use or similar features. In the provided situation, the bagels can be replaced with muffins due to the rise in their purchase price of them.
Therefore, the rise in demand for bagels if the price of the bagels gets higher at the time of substitute goods.
Learn more about the substitute goods in the related link:
https://brainly.com/question/2213283
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