If an increase in quantity demanded of a product reduces the quantity demanded of another, then the two goods are said to be substitutes.

Answer the following statement true (T) or false (F)

True

Economics

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When an individual spends more than her/his disposable income, this person is

A) saving. B) investing. C) dissaving. D) unemployed.

Economics

Which of the following is NOT a characteristic of oligopoly firms?

A) strategic dependence B) product differentiation C) non-price competition, such as advertising and promotions D) perfectly elastic demand curves

Economics