Answer to Question #311307 in Economics for Anonymous

Question

If Gouda cheese and cheddar cheese are substitutes, then which of the following would increase the demand for cheddar cheese?

1.an increase in the price of Gouda cheese

2.an increase in the price of cheddar cheese.

3.a decrease in the price of Gouda cheese

4.a decrease in the price of cheddar cheese

Answer 1

1.an increase in the price of Gouda cheese

4.a decrease in the price of cheddar cheese