Multiple Choice
Assume that the price of X decreases and as a result of that the demand for Y increases while the demand for Z decreases. From this we can conclude that
A) goods X and Y are substitutes in consumption.
B) goods X and Z are substitutes in consumption.
C) goods Y and Z are complements in consumption.
D) None of the above is correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q91: Market equilibrium refers to a situation in
Q92: Which of the following is a feature
Q93: Which of the following will not be
Q94: If the price of a good increases
Q95: Assume that the demand for product
Q97: How is a Dutch auction conducted?<br>A) Starts
Q98: If we notice that an increase in
Q99: Assume that the demand and the
Q100: If consumers in country A purchase many
Q101: A decline in the demand will cause