Oreo cookies are now extremely expensive to purchase. Instead of buying oreo cookies, i now want to buy chips ahoy. What determinant of demand does this likely fall under?.

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01-12-2021
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Oreo cookies are now extremely expensive to purchase. Instead of buying oreo cookies, i now want to buy chips ahoy. What determinant of demand does this likely fall under?.

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ayfat23 ayfat23 · Answer 1 · 2021-12-15T08:31:14+01:00

In economics, the determinant of demand that this scenario fall under , when you go for chips ahoy because Oreo cookies are now extremely expensive is Change in Price of Substitute Good.

What is Substitute Good?

A substitute good can be regarded as product or service that is been used as alternative for other goods.

It should be When the price of a substitute good rise, then demand for the other substitute as well will rise.

This is referred to as positive cross price elasticity.

Learn more about substitute good at:

https://brainly.com/question/10504938