Solved

If a 5 Percent Increase in the Price of Good

Question 311

Multiple Choice

If a 5 percent increase in the price of good A leads to a 4 percent decrease in the demand for good B, then

A) the goods are substitutes.
B) only one good is a normal good.
C) the goods are complements.
D) both goods are normal goods.

Related Questions

Q306: If goods A and B are complements,

Q307: Last year in the United States, the

Q308: The price elasticity of demand for meat

Q309: If there is an increase in the

Q310: If your demand for a good is

Q312: If the demand curve for a good

Q313: By reviewing its sales records, Dell economists

Q314: The worst drought in over 50 years

Q315: The cross elasticity of demand between apples

Q316: Demand is inelastic when a price _