If Cheese Spreads and Butter Are Substitutes, an Increase in the Price

question 7

Multiple Choice

If cheese spreads and butter are substitutes, an increase in the price of butter will:

• A)shift the demand curve for cheese spreads upward.
• B)shift the demand curve for cheese spreads downward.
• C)shift the demand curve for butter upwards.
• D)shift the demand curve for butter downward.

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Definitions:

Addition

The mathematical operation that combines two or more quantities into a single sum.

Commutative Property

A fundamental property of addition and multiplication that states the order of the operands does not change the result, expressed as a+b=b+a or ab=ba.

Multiplication

An arithmetic operation where a number is added to itself a certain number of times, based on another number.

Additive Inverse

The additive inverse of a number is another number that, when added to it, results in zero.