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Soft Drinks and Milk Are Substitutes for Consumers

question 421

Essay

Soft drinks and milk are substitutes for consumers. Draw a graph showing the effect of an increase in the price of milk on the demand for soft drinks.


Definitions:

Major Organic Product

The primary outcome of an organic reaction which is produced in the greatest quantity.

Fischer Esterification

A chemical reaction process that forms an ester from an alcohol and a carboxylic acid in the presence of an acid catalyst.

Acetic Acid

A simple carboxylic acid known as the main component of vinegar, widely used in the food industry and chemical manufacturing.

Methanol

A simple alcohol with the formula CH3OH, used as a solvent, antifreeze, fuel, and as feedstock for chemical synthesis.

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