Econometrica: Jan 1951, Volume 19, Issue 1
Consumer Substitutions between Butter and Margarine
James N. MorganThis paper reports the results of a statistical investigation of consumer response to shifts in the prices of butter and margarine. The quantity data are shipments to retail stores of a chain in Rhode Island, the price data are retail prices. It is believed that the market and production conditions during the period under study were such that a relatively simple statistical is justified.
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