Based on Figure 3.2, it can be inferred that:
A) Alvin does not consider good X as "good."
B) Alvin will never purchase any of good Y.
C) Alvin regards good X and good Y as perfect substitutes.
D) Alvin regards good X and good Y as perfect complements.
E) none of the above
D
You might also like to view...
In response to the recession of 2008-2009, the fiscal policy of the federal government was
a. highly expansionary, and this Keynesian stimulus promoted a rapid recovery. b. highly expansionary, but this was largely offset by the Fed's restrictive monetary policy c. highly restrictive, but this was largely offset by the Fed's highly expansionary monetary policy d. highly expansionary, but the unemployment rate nonetheless remained high during 2010 and 2011
Assume peanut butter and jelly are complements. Ceteris paribus, an increase in the price of peanut butter will cause the equilibrium price of jelly to
A. Decrease and the equilibrium quantity of jelly to decrease. B. Decrease and the equilibrium quantity of jelly to increase. C. Increase and the equilibrium quantity of jelly to increase. D. Increase and the equilibrium quantity of jelly to decrease.