Which of the following causes an increase in demand for a normal good?
A) increase in the price of a substitute
B) increase in the price of a complement
C) decrease in price
D) decrease in income
Answer: A
Economics
You might also like to view...
The figure above shows Ilene's budget line. The price of a can of cat food is $2. The price of a can of dog food
A) is $1.60. B) is $4.00. C) is $5.00. D) cannot be determined without more information.
Economics
When there are barriers to entry, a profit-maximizing firm already in the industry can charge any price it wants, even in the long run
a. True b. False
Economics