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How did American merchants respond to the Molasses Act of 1733?
Substitute Product
A product that can be used in place of another product, offering a similar utility to the consumer.
Complementary Product
A product that adds value to another product when used together, typically enhancing the user's experience or utility.
Demand Curve
A graph showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at that price.
Substitute Good
A product or service that a consumer can use in place of another to satisfy the same need or desire.
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