The Cross Elasticity of Demand for Butter and Margarine Is

question 284

Multiple Choice

The cross elasticity of demand for butter and margarine is likely to be

• A) positive because they are substitutes.
• B) positive because they are complements.
• C) negative because they are substitutes.
• D) negative because they are complements.
• E) positive because they are normal goods.

---

Definitions:

Trademark Dilution Act

Legislation aimed at protecting famous trademarks from uses that blur their distinctiveness or tarnish their reputation.

Recognition

The acknowledgment or identification of something as valid or as having a specific status.

Plant Patents

A type of intellectual property protection that allows the holder exclusive rights to asexually reproducing, selling, or using a new, distinct variety of plant.

Nonobviousness

A criterion for patentability of an invention, which requires that the invention must not be obvious to a person having ordinary skill in the art at the time of the invention.