A mixture of starch sources may be used, with a secondary starch source, such as maize (corn), rice or sugar, often being termed an adjunct, especially when used as a lower-cost substitute for malted barley.
Recent increases in the use of pearl millet as a lower-cost substitute for maize feed in aquaculture and dairy and poultry farming in India and the southeastern United States are not well documented, and, in any case, at the moment represent only a small fraction of overall feed grain utilization.
Ask about generic and lower-cost substitute drugs.
The size of any first-mover advantage depends on the speed of increases in capital requirements, the extent of the industry's need to add capacity to meet new market demand, and the potential for lower-cost substitutes to capture a lucrative share of the market.
The compliance deadlines could be influenced by the development of newer, lower-cost substitutes.
In brief, we argue that private owners, in increasingly complete markets, can transfer risk in discrete slices to counterparties who, in turn, can manage or otherwise diversify away those risks they choose to forego, arguably becoming a lower cost substitute for traditional risk capital.
The future holds even more competitive pricing threats; a potential breakthrough in the development of solar thermal equipment and photovoltaic cells by General Electric, Westinghouse, United Technologies, and several Japanese companies portends important new sources of even lower-cost energy substitutes.
While the quality of the steel that they initially produced was poor because of their inability to control the alloy contents due to contaminants in the scrap, technological advancements progressively eliminated this difficulty and increasingly made their lower-cost products viable substitutes for steel made from virgin materials.
Similarly, if the price of a major input to the production process increases, the firm is likely to substitute lower-cost alternatives and/or reduce its level of output.
Technically, a "chained CPI" might be justifiable if seniors routinely substitute lower-cost alternatives as prices rise, as most other Americans do.
Lately, those bumps have been scarce and more than a little weak, but adjustments based on chained CPI would be even weaker because the government would presume that as retail prices increase with inflation seniors will substitute lower-cost items.
