menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Managerial Economics and Business Strategy Study Set 1
  4. Exam
    Exam 4: The Theory of Individual Behavior
  5. Question
    If an Increase in the Price of Good X Leads
Solved

If an Increase in the Price of Good X Leads

Question 162

Question 162

Multiple Choice

If an increase in the price of good X leads to a decrease in the consumption of good Y,then goods X and Y are called


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

Correct Answer:

verifed

Verified

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

Related Questions

Q157: Suppose that consumers' preferences are well behaved

Q158: Joe consumes 10 units of food and

Q159: Sam Voter prefers Jack to Rob,Rob to

Q160: If sugar and Nutrasweet are substitutes,then we

Q161: Draw the opportunity set of a consumer

Q163: Diminishing marginal rate of substitution implies that

Q164: At a very basic level,food and shelter

Q165: By the completeness property,if neither A ≻

Q166: Use indifference curve and constraint analysis to

Q167: If shoes and socks are complements and

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