There is an increase in the demand for cookies when the price of coffee falls. Other things constant, we can conclude that cookies and coffee are
A) substitute goods.
B) inferior goods.
C) independent goods.
D) complementary goods.
Answer: D
Economics
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Given the data in Table 6.1, the labor force participation rate of Metropolis is approximately
A) 96 percent. B) 91 percent. C) 83 percent. D) 78 percent.
Economics
The fact that a perfectly competitive firm has a perfectly elastic demand curve means
A) there is no limit to the firm's profits. B) there is no limit to the firm's revenues. C) that it can sell all it wants at any price. D) None of the above
Economics