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20 March, 19:10

Many cooks view butter and margarine to be substitutes. if the price of butter rises, then in the market for margarine:

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  1. 20 March, 22:38
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    The answer to this question is both the equilibrium price and quantity will rise

    For substitutes, the movement of price usually really similar. In this case, when the price for butter rises, margarine suppliers will see this as an opportunity to increase the profit by also increasing the price of their products which will also increase the quantity equilibrium
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