If the demand for gadgets increases as a result of a decrease in the price of widgets, the widgets and gadgets are:
A. elastically demanded.
B. complementary goods.
C. normal goods.
D. substitute goods.
Answer: B
Economics
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The above figure shows the market for neckties. Based on the graph, how much tax per necktie has been imposed by the government?
A) $1.25 per tie B) $1.00 per tie C) $0.75 per tie D) More information is needed to determine the tax that the government has imposed.
Economics
There is currently a price ceiling in the market for transplanted kidneys, which has helped to create a shortage of transplanted kidneys
Indicate whether the statement is true or false
Economics