Business, 19.10.2019 01:20, tbggheemoney

Assume that ramen is an inferior good. if the price of ramen rises, then the substitution effect results in the person buying of the good and the income effect results in the person buying of the good.

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The leading producer of cell phone backup batteries, jumpstart, has achieved great success because they produce high-quality battery backups that are not too expensive. even so, another company that produces lower-quality batteries at the same price has also achieved some success, but not as much as jumpstart. also, in general, the price of backup batteries has declined because of economies of scale and learning. in addition, jumpstart has added complementary assets, such as a carrying case. considering all of these factors, the backup battery industry is most likely in the introduction stage. growth stage. shakeout stage. maturity stage.

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Assume that ramen is an inferior good. if the price of ramen rises, then the substitution effect res...