Figure 3-5 -In Figure 3-5,if the Initial Demand for Margarine Were D₁,an

question 218

Multiple Choice

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?

• A)a shift in the demand curve from D₁ to D₂
• B)a shift in the demand curve from D₂ to D₁
• C)a movement along demand curve D₁ from a to b
• D)a movement along demand curve D₁ from b to a

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Definitions:

Actual Results

The outcomes or data obtained from real operations or experiments, not based on forecasts or estimates.

Direct Material Price Variance

The difference between the actual cost and the standard cost of raw materials used in the production process.

Purchasing Manager

A professional responsible for overseeing the acquisition of goods and services for a company, ensuring the best deals in terms of quality and price.

Sales Manager

A professional responsible for directing and overseeing a company's sales team and strategies.