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The table shows the prices that Terry paid for some of his expenditures in June and July 2011. Explain and discuss why these prices might

The table shows the prices that Terry paid for some of his expenditures in June and July

2011. Explain and discuss why these prices might have led to commodity substitution or outlet substitution.

Price in Price in June July Item dollars per unit Steak 4.1 1 4.01 Bread 3.25 3.12 Bacon 3.62 3.64 Milk 2.62 2.62 Tomatoes 1.60 1.62 Apples 1.18 1.19 Bananas 0.62 0.66 Chicken 1.28 1.26 Lettuce 1.64 1.68

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