TASC Economics Level 3 Practice Questions - TASC Economics Level 3 Examination (Course Code ECN315116) Exam

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Butter and margarine are close substitute goods. If the price of butter increases significantly, what immediate impact will occur in the market for margarine?

The demand curve for margarine will shift to the right The demand curve for margarine will shift to the left The supply curve for margarine will shift to the left There will be a movement down along the demand curve for margarine

Correct Answer:

The demand curve for margarine will shift to the right

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