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Vodka and Whiskey Are Considered by Consumers to Be Substitutes

Question 19

Multiple Choice

Vodka and whiskey are considered by consumers to be substitutes. What is the likely economic impact of a decrease in the price of whiskey?


A) a decrease in the supply of whiskey
B) a movement down along the demand curve for vodka
C) a leftward shift of the demand curve for vodka
D) a movement up along the demand curve for vodka

Correct Answer:

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