Every day for the past two years you've had ham and cheese on a whole wheat bagel for lunch at Bungalow Bob's Bagel Boutique.However, the price of whole wheat bagels has risen by 10 cents so today you decide to have ham and cheese on a rye bagel.In this case, whole wheat and rye bagels are best considered:

Question

Quizplus · Accepted Answer

Whole wheat and rye bagels are substitute goods because they can be used interchangeably as a base for the ham and cheese sandwich. When the price of a good increases, consumers tend to switch to substitute goods that are cheaper. In this case, when the price of whole wheat bagels rose, the consumer switched to rye bagels as a substitute.

Every Day for the Past Two Years You've Had Ham