Which of these is the best description of the substitution effect? Multiple choice question. The selection of one new project at the cost of rejecting a second new project Any increase in sales, costs, or necessary assets of a firm's current operations that results from the implementation of a new project Increasing the production of a current product when a new product is introduced Any decrease in the level of sales, costs, or necessary assets of a firm's current operations that is caused by the implementation of a new project