For Consumers, Chocolate Chip Cookies and Doughnuts Are Substitutes

question 254

True/False

For consumers, chocolate chip cookies and doughnuts are substitutes. So, an increase in the price of chocolate chip cookies will lead to a rightward shift in the demand curve for doughnuts.

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Definitions:

Chief Information Officer

An executive responsible for managing and implementing technology and information systems within an organization.

Information Systems

Systems that manage and process data to support decision-making and operations in an organization.

Big Data

Information collected in massive amounts and at unprecedented speed from both traditional and digital sources that is used in business decision making; complex structured or unstructured sets of information that traditional processing applications are unable to analyze.

Structured

Organized in a predictable, efficient, and systematic manner to facilitate processes, projects, or information management.