If Bagels and Doughnuts Are Substitutes,then a Decrease in the Price

question 102

Multiple Choice

If bagels and doughnuts are substitutes,then a decrease in the price of doughnuts will result in

• A)An increase in the demand for doughnuts.
• B)A decrease in the demand for doughnuts.
• C)An increase in the demand for bagels.
• D)A decrease in the demand for bagels.

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Definitions:

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The fiduciary relationship that arises when one person consents to have another act on his behalf and subject to his control and the other consents to do so.

Power of Attorney

A legal document that grants one individual (the agent) the authority to act on behalf of another (the principal) in legal or financial matters.

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