If Butter and Margarine Are Substitute Goods,an Increase in the Price

question 107

Multiple Choice

If butter and margarine are substitute goods,an increase in the price of butter is most likely to:

• A)shift the demand curve for margarine rightward.
• B)shift the demand curve for margarine leftward.
• C)increase the quantity of margarine demanded.
• D)decrease the quantity of margarine demanded.
• E)decrease the price of margarine.

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Definitions:

Performance IQ

A measure of a person's ability to solve problems, manipulate objects, and think abstractly, as assessed by certain IQ tests.

Wechsler Adult Intelligence Scale

A widely used test for assessing the intelligence and cognitive ability of adults and older adolescents.

Arrange

To organize or put things in a particular order or configuration, often to achieve a specified purpose or effect.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean.