If two goods are ________, then an increase in the price of one leads to ________ in the quantity demanded of the other
A) complements; a decrease
B) complements; no change
C) substitutes; a decrease
D) substitutes; no change
E) normal; an increase
A
Economics
You might also like to view...
Consumer preferences
a. do not vary from one consumer to another b. have little to do with personal tastes and income c. are not influenced by the utility of goods d. are individual evaluations of goods and services e. can be objectively measured and compared across individuals
Economics
During a period when new entrants are being attracted to an industry, we would expect that: a. economic profits are positive
b. as a result, economic profits are falling. c. as a result, economic profits are rising. d. both (a) and (b) are true.
Economics