Question 1 if the price of glass dramatically increases, Ask an Expert

Economics

Question: 1. If the price of glass dramatically increases, what are we likely to see a lot less of: glass windows or glass bottles? Why?

2. Assume that butter and margarine are substitutes. What will happen to the demand curve for butter if the price of margarine increases? Why?

3. When oil companies expect the price of oil to be higher next year, what happens to the supply of oil today?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92651612

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