Two goods are considered substitutes only if a(n):
a. decrease in the demand for one leads to a decrease in the supply of the other.
b. increase in the demand for one leads to a decrease in the supply of the other.
c. increase in the price of one leads to an increase in the demand for the other.
d. decrease in the price of one leads to an increase in the demand for the other.
e. decrease in the supply of one leads producers to switch to production of the other.
c
Economics
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Exchange rates under the Bretton Woods system were determined by relative supplies of gold held by countries within the system
Indicate whether the statement is true or false
Economics
Refer to Figure 4-10. What area represents the deadweight loss after the imposition of the ceiling?
A) J + H B) C + E C) C + E + J + H D) G + H
Economics