If Orange Juice and Apple Juice Are Substitutes, an Increase

question 34

True/False

If orange juice and apple juice are substitutes, an increase in the price of orange juice will shift the demand curve for apple juice to the right.

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Definitions:

Profit Center

A separate business unit or department within a company that is responsible for generating its own revenue and profit.

Cost Center

A department within a company that does not directly add to profit but still incurs costs, such as the customer service department.

Managerial Responsibility

The accountability of managers to make decisions and oversee a company's operations to meet its goals.

Cost Controllability

The ability of a manager or business to influence or manage the costs associated with business operations.