Such simultaneous execution, if perfect substitutes are involved, minimizes capital requirements, but in practice never creates a " self-financing " ( free ) position, as many sources incorrectly assume following the theory.
32.
In economics, successful product differentiation leads to competitive advantage and is inconsistent with the conditions for perfect competition, which include the requirement that the products of competing firms should be perfect substitutes.
33.
Because these three groups of instruments are nearly perfect substitutes, if at least one of these groups were to be exempt, it would likely attract most market volume from the taxed alternatives.
34.
The figure on the right depicts the case of two goods X 1 and X 2 which are perfect substitutes, prices of which are " p " 1 and " p " 2 respectively.
35.
What I had perceived, you see, was that Henry James was the perfect substitute for baseball, or, more accurately perhaps, what Henry's brother William James might have called " the literary equivalent of baseball ."
36.
In intuitive terms, the problem with the IIA axiom is that it leads to a failure to take account of the fact that red bus and blue bus are very similar, and are " perfect substitutes ".
37.
Such was his voice that it had an almost perfect substitute to the inimitable voice of GNB and while singing his guru's signature compositions it would often confuse the acute listener whether it is GNB singing or Kalyanaraman singing.
38.
The book included one of the earliest peanut butter sandwich recipes and one for " Nuttose ", a nut-based meat analogue with the consistency of cheese that was said to be a " perfect substitute for all flesh foods ."
39.
Price a person is willing to pay for a substitutes will be the one which he uses either of them and hence there would be no value for a firm to envelope a platform which acts as a perfect substitute for its own offering.
40.
In the subsequent years, fair trade agricultural commodities played an important role in the growth of many ATOs : successful on the market, they offered a renewable source of income for producers and provided Alternative Trading Organizations the perfect substitute to the stagnating handicrafts market.