Multiple Choice
If widgets and gidgets are complements and both are normal goods, then a decrease in the demand for widgets will result from
A) an increase in the price of widgets.
B) a decrease in income.
C) a decrease in the price of gidgets.
D) an increase in the price of widgets and a decrease in income.
Correct Answer:
Verified
Correct Answer:
Verified
Q81: What is the maximum amount of good
Q107: P<sub>X</sub>X + P<sub>Y</sub>Y = M is called:<br>A)
Q116: Suppose earnings are given by E =
Q139: Joe consumes 10 units of food and
Q145: If a consumer is given a $10
Q150: The substitution effect isolates the change in
Q151: If bundles A,B,and C lie on the
Q152: Suppose that consumers' preferences are well behaved
Q153: What is/are the important things that must
Q164: At a very basic level,food and shelter