Many cooks view butter and margarine to be substitutes

Assignment Help Microeconomics
Reference no: EM13687600

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.

Reference no: EM13687600

Questions Cloud

Education decision impact her optimal level of health : Rather than having stopped school with a high school diploma, by age 22 Poppy obtained an undergraduate degree in public health. How would this education decision impact her optimal level of health?
Equilibrium market price and quantity for health care : Using a demand-and-supply graph, show and describe the effect on equilibrium market price and quantity for health care of the following:
What is the speed of an electron that has been accelerated : What is the speed of an electron that has been accelerated to the point at which its total energy is 9.5 times its rest mass
Many economists believe that the trend toward greater wage : Many economists believe that the trend toward greater wage inequality across the U.S. economy was primarily caused by __________.
Many cooks view butter and margarine to be substitutes : Many cooks view butter and margarine to be substitutes. If the price of butter rises, then in the market for margarine:
How much liquid is in the pitcher when this condition occurs : If enough ice is added so the final mixture is all liquid, how much liquid is in the pitcher when this condition occurs
Expand capacity in order to experience economic growth : Dorfman is telling us that today, in the U.S., we need to expand capacity in order to experience economic growth. Your job is to decide whether or not that advice is appropriate.
Rightward shift of the market demand curve for labor : Which of the following results in a rightward shift of the market demand curve for labor?
What is the coefficient of linear expansion of the material : A rod has a length 2.00000 m at 10.0°C. What is the coefficient of linear expansion of the material from which the rod is made

Reviews

Write a Review

 

Microeconomics Questions & Answers

  The city of rochester is thinking of expanding its airport

The City of Rochester is thinking of expanding its airport. The expansion will increase travelers' consumer surplus by $100 and airlines' producer surplus by $200, while costing taxpayers only $50. However, the expanded airport will be much noisier.

  What events toward end of 19th century enabled general

what events toward the end of the 19th century enabled general interest magazines to become mass circulation magazines?

  Suppose the consumption function isc 400 billion 08y and

suppose the consumption function isc 400 billion 0.8y and the government wants to stimulate the economy. by how much

  Show what happens to the individual demand curve

Graph the demand curve for QY. You may use prices for Y of 2, 4, 5, and 10 as a guide. (You can use these four points as a guide to get a reasonable approximation for the rest of the demand curve.)

  When asking about what is offered from each plan to assist

when asking about what is offered from each plan to help you decide would you not want to know how much each costs? if

  How does the charging the monoply a specific tax per unit

how does the charging the monoply a specific tax per unit affect the monopoly optmum and 5the welfare of

  Calculate the present value of the bond

1. Consider a one-year discount bond that pays $2,000 one year from now. If the rate of discount is 3 percent, calculate the present value of the bond.

  Describe how circular flow diagram associates to current

explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram

  Find the breakeven discount rate

Find the breakeven discount rate such that the net present value of this development opportunity is zero and will the future value of this investment be sufficient to compensate those that suffer damages in year 20?

  Cause of the aggregate demand curve to shift to the right

Assume that the market for Mexican pesos begin in equilibrium. Then, the Mexican economy experiences a severe recession. Because of the recession, the Mexican companies lower their prices. As a result of the recession and lower prices in Mexico.

  Recognize and read at least three journal articles focused

globalization was welcomed around the world at the beginning of the 1990s. different trade theories were used to

  Describe why aggregate supply curve is vertical in a graph

explain why the aggregate supply curve is vertical in a graph with the price level on the vertical axis and real gdp on

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd