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
You might also like to view...
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