menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Principles of Microeconomics Study Set 4
  4. Exam
    Exam 5: Elasticity: a Measure of Response
  5. Question
    If a 20 Percent Increase in the Price of One
Solved

If a 20 Percent Increase in the Price of One

Question 98

Question 98

Multiple Choice

If a 20 percent increase in the price of one good leads to a 10 percent increase in the quantity demanded of another good at a specific price, the goods are:


A) substitutes.
B) normal.
C) inferior.
D) complements.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q61: The cross-price elasticity of demand of substitute

Q93: There is no total revenue test for

Q94: Other things being equal, the price elasticity

Q95: If someone did not regard health care

Q96: The price elasticity of demand for soft

Q97: Explain, using the concept of elasticity of

Q99: A shirt manufacturer sold 10 dozen shirts

Q100: Use the following for questions 163-168.<br>Exhibit: Johnson's

Q101: The price elasticity of demand for gasoline

Q103: For a normal good, income elasticity of

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines