An increase in the price of Post Frosted Mini Wheats (a substitute for Kellogg Frosted Mini Wheats) should Group of answer choices a) cause the Demand curve for Kellogg Frosted Mini Wheats to shift to the right. b) cause no shift in the Demand curve for Kellogg Frosted Mini Wheats. c) cause the Demand curve for Kellogg Frosted Mini Wheats to shift to the left. d) shift the Demand curve for Post Frosted Mini Wheats to the left. e) shift the Demand curve for Post Frosted Mini Wheats to the right.
An increase in the price of Post Frosted Mini Wheats (a substitute for Kellogg Frosted Mini Wheats) should Group of answer choices a) cause the Demand curve for Kellogg Frosted Mini Wheats to shift to the right. b) cause no shift in the Demand curve for Kellogg Frosted Mini Wheats. c) cause the Demand curve for Kellogg Frosted Mini Wheats to shift to the left. d) shift the Demand curve for Post Frosted Mini Wheats to the left. e) shift the Demand curve for Post Frosted Mini Wheats to the right.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
An increase in the
Group of answer choices
a) cause the Demand curve for Kellogg Frosted Mini Wheats to shift to the right.
b) cause no shift in the Demand curve for Kellogg Frosted Mini Wheats.
c) cause the Demand curve for Kellogg Frosted Mini Wheats to shift to the left.
d) shift the Demand curve for Post Frosted Mini Wheats to the left.
e) shift the Demand curve for Post Frosted Mini Wheats to the right.
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