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If a Product Has Many Substitutes,which of the Following Statements

question 31

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If a product has many substitutes,which of the following statements is correct?


Definitions:

Nominal-Level

Pertains to data classification into non-numeric categories that cannot be logically ordered or ranked.

Positive Correlation

A relationship between two variables where an increase in one variable is associated with an increase in the other variable.

Increases

A rise in magnitude, quantity, or value of something.

Negative Correlation

A bond between two variables in which the elevation of one corresponds with the reduction of the other.

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