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For Consumers, Pizza and Hamburgers Are Substitutes

question 93

Multiple Choice

For consumers, pizza and hamburgers are substitutes. A rise in the price of a pizza causes _____ in the equilibrium price of a hamburger and _____ in the equilibrium quantity of hamburgers.


Definitions:

Organizational Charts

Diagrams that display the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.

Narrative Discussions

Conversations or writings that tell a story or recount events in a detailed and descriptive manner.

Word-processing Software

Computer software designed to create, edit, format, and print written documents.

Total Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

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