When an Entrepreneur Introduces a New Improved Product That Is

question 146

Multiple Choice

When an entrepreneur introduces a new improved product that is highly valued relative to cost

• A) consumers will be worse off.
• B) the demand for the products that are good substitutes for the new product will increase.
• C) some of the existing products will become obsolete and businesses producing those products will fail.
• D) total employment will decline if there are business failures.

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Definitions:

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