If a decrease in the price of good Y causes the demand for good Z to decrease, this indicates that
a. Y and Z are complements.
b. Y and Z are substitutes.
c. Y and Z are unrelated.
d. the demand for Y is elastic, but the demand for Z is inelastic.
B
Economics
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Refer to Figure 10.2. At output Qm, and assuming that the monopoly has set her price to maximize profit, the consumer surplus is:
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Economics