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Ira Lisetskai [31]
4 years ago
11

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

Business
1 answer:
Mkey [24]4 years ago
6 0
The answer to this question is <span>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</span>
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