The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1

-Margarine and butter can both be used as a spread on toast. This means that they are:
A)independent goods.
B)complementary goods.
C)substitute goods.
D)Giffen goods.
E)inferior goods.

Question

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1
 
-Margarine and butter can both be used as a spread on toast. This means that they are:
A)independent goods. 
B)complementary goods. 
C)substitute goods. 
D)Giffen goods. 
E)inferior goods.

Quizplus · Accepted Answer

Margarine and butter are substitute goods since they can be used for the same purpose (as a spread on toast) and consumers can choose either one based on price or personal preference.

The Table Given Below Reports the Quantity Demanded of a Good