In the graph below, a decrease in the price of good Y will result in:
A. A decrease in demand for good Y
B. An increase in demand for good Y
C. An increase in demand for good X
D. A decrease in demand for good X
D. A decrease in demand for good X
Economics
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When the marginal product of labor exceeds the average product of labor, the average product must increase when employment increases
Indicate whether the statement is true or false
Economics
Which of the following is false?
a. Products with more close substitutes have more elastic demand b. The demand for any individual brand is less elastic than industry aggregate demand c. Products with many complements have less elastic demand d. In the long run, demand curves become more elastic
Economics