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Economic Definition of substitute-in-production. Defined.

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Term substitute-in-production Definition: One of two goods that can replace each other in production--that is, using resources to produce one good prevents their use in the other. A substitute good is one of two alternatives falling within the other prices determinant of supply. The other is complement-in-production. An increase in the price of one substitute-in-production causes a decrease in supply of the other.


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