Figure 3-5 
-In Figure 3-5, if the initial demand for margarine were D1, an increase in the price of butter, which is a substitute for margarine, would tend to cause which of the following changes in the market for margarine?
Definitions:
Marginal Revenue
The extra revenue received from the sale of an additional unit of a product or service.
Elasticity Of Demand
A metric reflecting how demand for a commodity reacts to price adjustments.
Profit-Maximizing Price
The price level at which a company can sell its product to maximize its profit, calculated by understanding demand and cost structures.
Lerner Index
A measure of a firm's market power, calculated as the difference between price and marginal cost relative to price.
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