Many cooks view butter and margarine to be substitutes if, Ask an Expert

Economics

Many cooks view butter and margarine to be substitutes. If the price of butter rises, then in the market for margarine:

A. both the equilibrium price and quantity will raise.

B. the equilibrium price will rise and the equilibrium quantity will decrease.

C. the equilibrium price will fall and the equilibrium quantity will fall.

D. the equilibrium price will rise, while the change to equilibrium quantity is indeterminate.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91227322

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