How will consumers generally react to an increase in the price of butter?
a. They will purchase a larger quantity of butter.
b. They will substitute other goods like margarine for the more expensive butter.
c. They will reduce their purchases of substitute goods like margarine.
d. They will continue purchasing the same quantity of butter at the higher price.
B
Economics
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In the United States in 2014, the percentage of people that directly purchased an individual or family health insurance policy from an insurance company was about
A) 2%. B) 15%. C) 17%. D) 26%.
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