Multiple Choice
Suppose that a consumer's preferences are well behaved in that properties 4-1 to 4-4 are satisfied and the initial equilibrium consumption bundle consists of 10 units of X and 25 units of Y.If PY increases such that the new equilibrium consumption bundle is 15 units of X and 10 units of Y,then goods X and Y are:
A) complements.
B) substitutes.
C) normal goods.
D) unrelated.
Correct Answer:
Verified
Correct Answer:
Verified
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